Brazil's real remains overvalued after an 11 percent plunge in the past three months, according to Paulo Skaf, president of the Sao Paulo Federation of Industries.
A real weaker than 2 per U.S. dollar would be "healthy," Skaf
told reporters today in Sao Paulo
The real last traded at that level in July 2009.
"The real was and still is overvalued," Skaf
"So this little adjustment has been a positive thing."