
The Brazilian Real is the official currency of Brazil, and it's a great currency to learn about. The symbol for the Brazilian Real is R$, which is used on currency notes and coins.
You can find the R$ symbol on all Brazilian currency, from the smallest coins to the largest notes. It's a widely recognized symbol, even outside of Brazil.
To give you a better idea, let's take a look at the history of the Brazilian Real. The currency was introduced in 1994, replacing the Cruzeiro Real.
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Introduction to Brazilian Currency
The Brazilian real is the official currency of Brazil, represented by the symbol R$ and the currency code BRL. It's divided into smaller units called centavos, with 1 real equal to 100 centavos.
Reais come in a range of denominations, from R$2 to R$200, and are managed by the Banco Central do Brasil, which influences the real's inflation rate and value. The Casa da Moeda do Brasil, the Brazilian mint, produces banknotes and coins.
Here's a breakdown of the different real banknote denominations:
- R$2
- R$5
- R$10
- R$20
- R$50
- R$100
- R$200
The front of all real banknotes features a distinctive sculpture called the "Effigy of the Republic", which is an important symbol in Brazil.
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The Real, Brazil's official currency, has a rich history dating back to the 17th century when it arrived with the Portuguese and Dutch. The name "Real" means "royal" in Portuguese.
The Real was first used in Brazil during the colonial days and was also the currency used in Portugal from the 1400s until 1911. The "old Real" had a symbol called "cifrão", which was a unique sign with two vertical strokes.
The plural form of the old Real is "réis", not "reais", which is the plural form of the modern Real. This is an important distinction to note when dealing with historical currency.
The Real underwent many changes due to inflation, with the practical unit changing to "mil reís" (one-thousand réis) and later to "conto de réis" (one million réis).
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The 1 Coin
The 1 Real coin is a unique piece of Brazilian currency that features Marajoara art and the effigy of the Republic.
This effigy is known as the "Efígie da República" and is a symbol of the Republic in both Brazil and Portugal.
It's based on a painting by Manuel Lopes Rodrigues in 1896, which depicts a woman representing the Brazilian republic.
The 1 Real coin also features the Southern Cross constellation in the night sky, which is mostly visible from the Southern hemisphere.
Brazil is the largest country in the Southern hemisphere, which is why this symbol has become significant for the country.
The island of Marajó, which is home to the Marajoara art, is roughly the size of Switzerland and is famous for its ceramic pottery.
This pottery is a testament to the fact that the island was inhabited as early as 1400BC.
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Brazilian Currency
The Brazilian currency is the real, represented by the symbol R$ and the currency code BRL. It's divided into centavos, with 1 real equaling 100 centavos.
Real banknotes range from R$2 to R$200 in various denominations, including R$2, R$5, R$10, R$20, R$50, R$100, and R$200. Coins also come in different denominations, such as 5 centavos, 10 centavos, 25 centavos, and 50 centavos.
The Banco Central do Brasil manages the country's monetary policy, influencing the real's inflation rate and value. As a floating exchange rate currency, the Brazilian real's exchange rate fluctuates daily.
To write numerical "Reais" in Brazil, a period or full-stop (.) is used to mark thousands and a comma (,) to mark fractions. This can be a bit tricky for visitors, but it's essential to get it right.
Here's a quick guide to help you understand how to write Brazilian currency:
- R$ 7,00 means 7 Reais and 0 centavos
- R$ 7.000 means 7,000 Reais (no centavos)
- R$ 1.225,14 means 1,225 Reais and 14 centavos
The front of all real banknotes features a unique sculpture known as the "Effigy of the Republic", a representation of a woman wearing a crown of bay leaves that is an important symbol in Brazil.
History of Brazilian Currency
The Brazilian currency has a rich history that spans centuries. The Real was the first official currency of Brazil, arriving with the Portuguese and Dutch around the mid-17th century.
It's interesting to note that the name "real" means "royal" in Portuguese, and it was also the name of the currency in circulation in Portugal from the 1400s until 1911. The symbol for the "old Real" was "Rs$", which is still used in some contexts today.
The old Real went through many changes, including the introduction of new denominations and the use of different materials, such as copper, silver, and gold. The practical unit of the old Real changed many times due to inflation, with some denominations becoming equivalent to one-thousand or even one million réis.
Here's a brief timeline of the major currencies used in Brazil:
Not considering inflation, one modern Brazilian real is equivalent to 2.75 quintillion réis, highlighting the massive changes that have taken place in the Brazilian currency over time.
Under Lula
Under Lula, the Brazilian currency underwent a significant transformation. The real tumbled against the dollar from R$2.50 to R$4.00 in November 2002, causing investors and the public to lose confidence in the currency.
Lula's election as president in 2002 was a surprise to many, as he continued many of the previous government's policies, targeting the control of inflation and maintaining a floating currency. He even appointed conservative ministers to key positions, such as the Ministry of Finance and the Revenue Service.
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Lula's critics accused him of going back on his word, as he increased the minimum wage less than promised during his presidential candidacy. Despite this, the Brazilian currency flourished, and the economy grew rapidly during Lula's years in office.
The GDP grew by 5.7% in 2004 and 3.2% in 2005, 4% in 2006, 6.1% in 2007, and 5.1% in 2008. This growth continued even during the global financial crisis, with the economy ending 2010 with a figure of 7.5%.
History of Realism
The Brazilian real has a rich history that dates back to 1694 when King Peter II of Portugal established the country's first mint. This marked the beginning of Brazil's monetary system.
In the 16th-18th centuries, the country used the Portuguese real as its currency. This was followed by the introduction of the Réis in 1747, which remained in circulation until 1942.
The First cruzeiro was introduced in 1942 and remained in use until 1967. It was then replaced by the Cruzeiro novo, which was used until 1970. The Cruzado was introduced in 1986 and was used until 1989, when it was replaced by the Cruzado novo.
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The Cruzeiro real was used from 1993 to 1994, before being replaced by the current Brazilian real in 1994. The current real was initially pegged to the US dollar to control inflation.
Here's a brief timeline of the Brazilian real's predecessors:
In 1999, the real shifted to a floating exchange rate system, which led to a significant devaluation against the dollar. However, the currency eventually stabilized and has maintained its floating rate ever since.
Historical Currencies
Brazil's currency has a rich and complex history, with many different currencies being used over the years. One of the earliest currencies used in Brazil was the Portuguese Real, which was used from an unknown date until October 12, 1822.
The Portuguese Real was later replaced by the Real (old, pl.réis) on October 12, 1822, and it remained in use for 120 years and 20 days.
The Real (old, pl.réis) was equivalent to 1 Portuguese real and was used until November 1, 1942.
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A new currency, the Cruzeiro (first), was introduced on November 1, 1942, and it was equivalent to 1,000 réis.
The Cruzeiro (first) was replaced by the Cruzeiro novo on February 13, 1967, and it remained in use for 3 years and 3 months.
Here is a list of the historical currencies of Brazil:
The Real (new, pl.reais) is the current currency of Brazil, and it has been in use since July 1, 1994.
Brazilian Currency Overview
The Brazilian currency, the real, is a fascinating topic. The real is represented by the symbol R$ and has the currency code BRL. It's divided into centavos, with 1 real equaling 100 centavos.
You can easily spot a real banknote in Brazil, as they range from R$2 to R$200 in various denominations. Here are the denominations:
- R$2
- R$5
- R$10
- R$20
- R$50
- R$100
- R$200
Coins, on the other hand, come in denominations of 5, 10, 25, and 50 centavos, as well as R$1.
The Banco Central do Brasil manages Brazil's monetary policy, which affects the real's inflation rate and value. This means the real's exchange rate fluctuates daily.
Frequently Asked Questions
What is the symbol for Brazilian real?
The symbol for the Brazilian real is R$.
What is the legal currency in Brazil?
In Brazil, the Brazilian real (R$) is the only currency that is legally accepted. This means you won't find any other currencies accepted as payment in the country.
What does BRL mean in Brazil?
BRL is the currency abbreviation symbol for the Brazilian real, representing the official currency of Brazil. It's equivalent to 100 centavos and is often represented with the symbol R$.
Sources
- https://en.wikipedia.org/wiki/Brazilian_real
- https://www.istockphoto.com/photos/brazil-currency-symbol
- https://www.travel-brazil-selection.com/informations/essential-information/brazilian-currency/
- https://www.westernunion.com/blog/en/us/brazil-currency-guide-the-brazilian-real-brl/
- https://en.wikipedia.org/wiki/Brazilian_currency
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