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Brazil doesn't need so much FX reserves with exchange rate at 5.50/$ - economy minister

·1 min read

BRASILIA, Nov 6 (Reuters) - Brazil does not need the huge stash of international currency it currently has with an exchange rate at 5.50 reais per dollar, Economy Minister Paulo Guedes said on Friday, adding, however, that the government would not want much less either.

Speaking in a live online forum hosted by Itau MacroVision, Guedes also said the Brazilian economy is recovering strongly, and said any change in the U.S. political scene will not have any effect on Brazil's growth prospects. ($1 = 5.40 reais) (Reporting by Jamie McGeever and Marcela Ayres; editing by Jonathan Oatis)