Brazil real to stay at "realistic" level -official

Fri Oct 3, 2008 11:31am EDT
SAO PAULO, Oct 3 (Reuters) - Brazil's currency may not strengthen to previous levels because of ongoing global market turmoil, Finance Minister Guido Mantega said on Friday.
The real BRBY, which has plunged more than 20 percent since early August, is trading at a more realistic level now, Mantega said in a speech.
The currency had been trading at its strongest level since 1999 before the recent plunge, causing some exporters to demand government action to protect local products.
Mantega said the government is preparing new measures to help boost credit to exporters after trade finance dried up because of the global liquidity crunch.
(Reporting by Daniela Machado, Writing by Elzio Barreto, Editing by Chizu Nomiyama)