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The Brasil's real is among “the most overvalued currencies” in the world claims Thomas Stolper, a currency strategist at Goldman Sachs. Central bank chief Meirelles declined to comment on the currency, which touched a one-year high yesterday of 1.6978.
But Meirelles did say that emerging-market currencies that have been appreciating as economies recover from a global recession may become volatile as markets overprice assets.
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