March 5, 2020 / 6:50 PM / 3 months ago

Brazil FX market is nervous, recent moves have been large -economy minister Guedes

SAO PAULO, March 5 (Reuters) - Brazil’s currency market is nervous and the real’s fall recently has been large, Economy Minister Paulo Guedes said on Thursday, repeating his view, however, that the exchange rate is a floating one.

Speaking to reporters in Sao Paulo on the day the real fell below 4.66 per dollar for the first time, Guedes said the exchange rate is only a concern if it moves too quickly, and that if the government makes policy mistakes it could fall to 5 reais per dollar. (Reporting by José Gomes Neto Writing by Jamie McGeever Editing by Chris Reese)

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