All About the Brazilian Currency

Overview

The Brazilian currency is the real (R$). It is issued by the Central Bank of Brazil and has been in circulation since 1994. The real is divided into 100 centavos.

The real is a floating currency, which means that its value is determined by the forces of supply and demand in the foreign exchange market. The value of the real has fluctuated over time, but it has generally been stable in recent years.

History

The real was introduced in 1994 to replace the cruzeiro real, which had been suffering from high inflation. The real was initially pegged to the US dollar, but this peg was abandoned in 1999.

Since 1999, the real has been a floating currency. The value of the real has fluctuated over time, but it has generally been stable in recent years.

Banknotes and Coins

The real is available in banknotes and coins. Banknotes come in denominations of 2, 5, 10, 20, 50, and 100 reais. Coins come in denominations of 1, 5, 10, 25, and 50 centavos, and 1 real.

The banknotes and coins of the real are designed with images of Brazilian culture and history. The 2-real note features a portrait of the poet Carlos Drummond de Andrade. The 5-real note features a portrait of the writer Machado de Assis. The 10-real note features a portrait of the scientist Oswaldo Cruz. The 20-real note features a portrait of the composer Heitor Villa-Lobos. The 50-real note features a portrait of the artist Cândido Portinari. The 100-real note features a portrait of the architect Oscar Niemeyer.

Exchange Rates

The exchange rate between the real and the US dollar fluctuates constantly. The current exchange rate can be found on the website of the Central Bank of Brazil.

When exchanging currency, it is important to compare the rates offered by different banks and exchange bureaus. Some banks and exchange bureaus offer better rates than others.

Conclusion

The Brazilian real is a stable and widely accepted currency. It is used for all transactions in Brazil, and it is also accepted in some neighboring countries.

If you are planning to travel to Brazil, it is important to exchange your currency before you go. You can exchange your currency at banks, exchange bureaus, and hotels.