Floating ex affects competitiveness, says Franco

BRAZIL - Gustavo Franco, ex-president of BC (Brazilian Central Bank) said at a seminar Thursday in Sao Paulo, that the floating exchange now adopted by the federal administration may be a problem for Brazilian companies to keep competitive, and may drastically affect exports.

"We need to attract more foreign investments, reduce exchange volatility and interest rates. It is a difficult equation, but it will make the economy work better", he concluded.

Franco was president of the central bank bet

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