08.05.2013 - Brazil currency still overvalued from exporter perspective-vale
Brazilian exporters are facing a major crunch when it comes to both cost and revenue, according to Murilo Ferreira, president of mining giant Vale, Brazil's largest single exporter. "On the one side, Brazil's currency is still out of line," Mr. Ferreira said in a speech to investors Tuesday. "On the other side, our wage costs are rising faster than inflation."..............................................Full Article: Source
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