Brazil has been at the forefront of drawing international attention to exchange rate issues and the head of their central bank is keeping it front and center. Meirelles says FX issues will certainty be discussed at the IMF and G20 meetings.
Brazil, like other emerging markets, tries to keep its currency from strengthening to the point where it becomes uncompetitive. The recently doubled a tax on purchases of bonds by foreigners to limit so-called hot-money flows.
Also on the wires, Fin Min Mnatega says he is confident that the G20 can reach a deal on currencies similar to the Plaza Accord of the 1980s. Brazil is very close to China, so if anyone can get a read on the Chinese, it would be Brazil
