Brazil's Fraga says currency falls temporary

BRAZIL - Brazil's Central Bank President Arminio Fraga said on Wednesday the real currency's nosedive amid pre-election pressures was temporary and that an expected loan deal with the International Monetary Fund should help soon.

In an interview with Globo News television Fraga also rushed to soothe market fears of a debt default, ruling out any possibility of the present government not honouring its debt obligations and dismissing such fears as "superficial".

"There is no doubt that the govern