Brazilian Finance Minister Guido Mantega said Wednesday that no further measures were necessary to halt the fall of the U.S. dollar against the Brazilian real.
Mantega said the value of the Brazilian real is now at a reasonable level, with the exchange rate closing at 1.726 reais against the dollar on Wednesday, accumulating a rise of 1.35 percent in November and a fall of 0.97 percent in 2010.
He said it is no good to interfere in the exchange rate all the time, stressing that the government will observe the U.S. dollar and take measures if necessary.
The Brazilian government announced measures to halt the fall of the U.S. dollar in October, including two increases in the tax on financial operations. In two weeks, the tax rate jumped from 2 to 6 percent.
