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Brazil Currency – Brazilian Real

Brazilian Currency

“Brazilian Real – The Currency of Brazil”

Brazil Currency - Brazilian Real

 

About The Currency of Brazil

The Brazil currency is called the Real (plural: Reais). The Brazilian Real is the official currency used in Brazil. Its symbol is R$ and its ISO code is BRL. Brazilian Coins The currency in Brazil is subdivided into 100 centavos (“hundredths”). The coins in circulation are of denominations of; 1, 5, 10, 25 and 50 Centavos, and a 1 Real coin. Brazil Currency - Brazilian Real   Brazilian Real – Banknotes The banknotes (paper money) in circulation are of denominations of; 1, 2, 5, 10, 20, 50, and 100 Reais. Brazil Currency - Brazilian Real Brazil Currency  

 

New Brazilian Banknotes – New Brazil Currency

Brazil Currency - Brazilian Real The new Brazilian real implements relevant size to worth

In 2010, the Central Bank of Brazil announced a new series of Brazilian real banknotes. The new banknotes have begun to enter circulation in 2010, coexisting with the older ones. The newly designed banknotes have more security enhancements, such as a new holographic strip to prevent counterfeiting. The notes also have different sizes according to their values to help vision-impaired people. Although there are some changes in the design of the new banknotes, the figures and animals on the notes remain the same and also the color of the notes remains unchanged. The 50 and 100 real notes were issued first because they are the most forged banknotes, and the new 20 and 10 real bills released in 2011. The whole process will be finished by 2012, with the launch of the new 5 and 2 real notes. Older banknotes will remain in circulation during the whole process.

In 2010, the Central Bank of Brazil announced a new series of Brazilian real banknotes. The new banknotes have begun to enter circulation in 2010, coexisting with the older ones. The newly designed banknotes have more security enhancements, such as a new holographic strip to prevent counterfeiting. The notes also have different sizes according to their values to help vision-impaired people. Although there are some changes in the design of the new banknotes, the figures and animals on the notes remain the same and also the color of the notes remains unchanged. The 50 and 100 real notes were issued first because they are the most forged banknotes, and the new 20 and 10 real bills released in 2011. The whole process will be finished by 2012, with the launch of the new 5 and 2 real notes. Older banknotes will remain in circulation during the whole process.

 

Tips for Travelers Exchanging Money, Exchange Rates & ATMs

The American dollar and the Euro are typically not accepted when buying items in Brazil, so you must use the Brazilian real. You can exchange your currency upon arrival in the airport at exchange booths although the exchange rate is not very good. You can also find ATMs at the airport. There are plenty of currency exchange services in the cities. Look for banks or places called Casas de Cambios (money-exchange house) to exchange to the Brazilian currency. There are many options to get and stay funded. Here is a list of options for getting money and exchanging:

    • ATMs are the easiest way for travelers to stay funded because the machines are usually up-to-date with the current exchange rates. ATMs accept Visa, Cirrus, and MasterCard. Most ATMs in Brazil give you the option of being operated in English or Portuguese.Before you go, check with your bank whether your ATM card will work in Brazil. When you withdraw cash from an ATM you can only take out Brazilian Reais. There is usually an ATM transaction fee or a service fee that may be charged by the bank.ATMs are available all over the larger cities in Brazil. In smaller towns, ATMs can be tough to find, but typically are available if there is a bank in that town. When you’re taking cash out, be aware of your surroundings, there could be thieves in the area, though I have never had a problem before.
    • Casas de Cambios (money exchange stores) are found in the larger cities. Currency exchange rates are posted in the window of most these places. They will exchange your paper bills or traveler’s checks and there is a fee associated with the transaction. commission.
  • Travelers checks can be cashed at a Casa de Cambio inside the larger cities and most banks should be able to exchange traveler’s checks. Most upscale hotels and restaurants will also sometimes accept traveler’s checks in Brazil. There is usually a fee for changing traveler’s checks.
  • Banks can be found all over Brazil. You can find both international banks and Brazilian banks. Some banks are Citi Bank, Bank of America, HSBC, Santander, Banco do Brasil, Bradesco, Itau and more. You can almost always find ATMs at banks, where you’ll find a security guard in front of the bank.

 

Brazilian Currency Exchange Rate Converter

You can check the latest Brazil currency exchange rates using the currency converter tool below. Select the currency of your country and click on the “convert” button to see what the current exchange rate is.

History of the Brazil Currency

The use of metal coinage as a monetary unit first appeared in Brazil in the 16th century during the time of the Portuguese colonization. The first metal coins were made of gold, silver, and copper. The monetary unit of Portugal, the REAL, was used in Brazil during the whole colonial period. The currency was typically called Réis, which is the popular plural of Real, and coins were minted in Portugal and Brazil. The old Real was replaced in 1942 when it was replaced by the Cruzeiro unit. The Cruzeiro circulated until 1993 when it replaced by the short-lived Cruzeiro-Real. The modern-day Real was introduced on July 1, 1994. The Brazilian real was introduced in 1994 as part of a broader plan to stabilize the Brazilian economy, known as the Plano Real, which aimed to put an end to three decades of rampant inflation. At the time it was meant to have approximately fixed 1:1 exchange rate with the United States dollar. Soon after its introduction, the Brazilian real unexpectedly gained value against the U.S. dollar, due to large capital inflows in late 1994 and 1995. During that period it attained its maximum dollar value ever, about US$ 1.20. Between 1996 and 1998 the exchange rate was tightly controlled by the Central Bank, so that the real depreciated slowly and smoothly in relation to the dollar, rising from near 1:1 to about 1.2:1 by the end of 1998. It soon suffered a sudden devaluation to a rate of about 2:1 in 1999 and in the following years, the currency’s value against the dollar followed an erratic but mostly downwards path from 1999 until late 2002, when the prospect of the election of leftist candidate Luiz Inacio Lula da Silva, considered a radical populist by the financial markets, prompted a currency crisis and a spike in inflation. Many Brazilians feared another default on government debts and non-traditional economic policies and rushed to exchange their reais into tangible assets or foreign currencies. In October 2002 the exchange rate reached its historic low of almost R$4 per US$1. The crisis subsided once Lula took office, after he, his finance minister Antonio Palocci, and Arminio Fraga reaffirmed their intention to continue the traditional macroeconomic policies of his predecessor. The value of the real in dollars continued to fluctuate but generally upwards, so that by 2005 the exchange rate was a little over R$2 : US$1. With the growth of the Brazilian economy over the last few years, the value of the Brazilian currency has continued to increase in value against the U.S. Dollar. As of 2011, the exchange rate of the Brazil currency has ranged between R$ 1.55-1.75 per US$1.

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