RIO DE JANEIRO, BRAZIL - The US currency closed down for the third consecutive day and ended the week depreciating by 4.54 percent. On Friday, May 22nd, the dollar fell by 0.2 percent and closed at R$5.574.
On the investors' radar were the statements from the Central Bank's economic policy director, Fabio Kanczuk, who, on Friday morning, said that the authority is "very well" prepared to correct distortions in the exchange rate and is cautious about further interest rate cuts.
"This Central Bank is significantly less interventional than it was with other governments. With these statements . . .