Brasil's Real Growth: "Magical Moment" Coming To An End Says Former Banker.

BLOOMBERG/
Former Brasil central banker Carlos Eduardo de Freitas believes that the real, the world's best-performing major currency this year, may rally another 6 percent against the dollar before investment begins to ebb.
“Brasil is now at a magical moment but also has weaknesses and is subject to a sudden outflow of capital,” said Freitas, who headed the central bank’s economic department from 1991 to 1993. “That is why the central bank needs to be prepared and keeps increasing international reserves. Economies do not adjust smoothly.”