BRAZIL TEMPORARILY LEGALISES DLR PARALLEL MARKET Brazilian President Jose Sarney announced a move which temporarily legalises the purchase of U.S. dollars in the parallel currency market, aimed at promoting imports of foreign goods. In a speech, Sarney justified his measure as a need to face "current well known difficulties to obtain foreign loans for the purchase of goods." The parallel market, although officially tolerated, is technically illegal in Brazil. For the past year, the dollar in the parallel market has sold at between 25 and 100 pct above the official rate. Sarney's decision means Brazilian importers of machinery and industrial equipment can buy dollar currency in the parallel market without having to wait for an official order from the Banco do Brasil's Foreign Trade Department (Cacex). Sarney also announced measures to boost exports in an effort to strengthen the country's trade balance and alleviate the risk of a reduction of foreign loans for this sector of the economy. The president authorised the National Foreign Trade Council (CONEX) to resume operating as the ruling body of Brazil's trade policy, with participation of the private sector. The Council had been closed three years ago by the military government of former President Joao Figueiredo.