Reuters: US Dollar Report: UPDATE 1-Brazil may have to live with weaker real -cbank director

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UPDATE 1-Brazil may have to live with weaker real -cbank director Jun 4th 2013, 15:10 Tue Jun 4, 2013 11:10am EDT * Mendes says real is weakening in line with global move * Real weakens after Mendes' comments By Sujata Rao and Philip Baillie LONDON, June 4 (Reuters) - Brazil will have to live with a weaker real if its depreciation against the U.S. dollar is in line with the movement of other currencies, central bank director Aldo Mendes said on Tuesday. Mendes said that, if the depreciation of the real "is in line with other currencies, there is nothing we can do." "While the real is walking (in line) with all other currencies in a global movement, it is normal and we have to live with this," Mendes told reporters at an investors' event in London. Mendes, a member of the central bank board, is the bank's director of monetary policy. The real erased early gains and weakened about 0.2 percent after Mendes' comments to 2.13 per dollar. Last week the real fell to its weakest in four years on increased global risk aversion caused by concerns of a possible withdrawal of U.S. stimulus measures and speculation by local investors about policymakers' tolerance to a weaker currency. In the past three months, the real has weakened the most among the world's 36 most traded currencies tracked by Thomson Reuters. Link this Share this Digg this Email Reprints

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