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Brasil’s real may depreciate in an “orderly” fashion as a consumer-led recovery fuels imports, widening the current account deficit, said former Finance Minister Pedro Malan. Malan, the minister who ended a currency peg in 1999 that led to a 60% depreciation against the dollar, said the real may weaken in an “entirely orderly” fashion. The central bank should continue to sell and buy foreign currency in the spot and derivatives markets to help cushion foreign-exchange moves, he added.
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