High Dollar to Boost Brazil Industry: Daily

By Stephen Eisenhammer, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL - Brazil’s finance minister, Guido Mantega, reiterated his opinion Monday that the appreciating U.S. dollar will increase the competitiveness of Brazilian industry. Speaking at the finance ministry, Mantega said that the current exchange rate, just under US$1 to R$2, allowed local products to remain cheaper than imported goods subsequently boosting national production.

“The high dollar benefits the economy because it gives greater competitiveness to Brazilian products,” he said . . .

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