May 29, 2019 / 3:26 PM / a year ago

Brazil aims for full FX convertibility in 2 to 3 years - cenbank chief

BRASILIA, May 29 (Reuters) - Brazil aims to make its currency, the real, fully convertible within two to three years, central bank President Roberto Campos Neto said on Wednesday, adding that there remains much work to do to reduce the cost of credit and doing business in Brazil.

Speaking to reporters at the unveiling of a range of initiatives to simplify financial regulation and make financial markets more flexible and accessible to ordinary Brazilians, Campos Neto said the monetary authority will propose changes to exchange rate legislation in the near future.

Reporting by Jamie McGeever Editing by Chizu Nomiyama

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