The unit of money used in Brazil is the Brazilian Real (BRL).
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The unit of money used in Brazil is the Brazilian Real (BRL). The Real is the official currency of Brazil and has been in circulation since July 1, 1994. Managed by the Central Bank of Brazil, the Real replaced the previous currency, the Cruzeiro, as a part of the country’s economic stabilization plan.
According to influential economist Milton Friedman, a strong currency is a reflection of a strong economy. He once said, “Inflation is taxation without legislation.” This quote emphasizes the importance of a stable currency as a measure of a nation’s economic health.
Here are some interesting facts about the Brazilian Real:
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Symbol and Currency Code: The symbol for the Brazilian Real is “R$” and it is denoted with the currency code “BRL”.
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Banknotes: The Real is available in banknotes of different denominations, including R$2, R$5, R$10, R$20, R$50, and R$100. Each banknote features important Brazilian historical figures or landmarks.
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Coins: There are coins in circulation for the values of 5, 10, 25, and 50 centavos, as well as 1 Real.
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Historical Background: The introduction of the Real was part of Brazil’s Plano Real (Real Plan), which aimed to stabilize the economy and curb hyperinflation. The plan was successful in bringing stability to the Brazilian economy.
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Exchange Rate: The exchange rate of the Brazilian Real can fluctuate due to various factors, including economic indicators, political stability, and global market conditions.
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International Recognition: The Brazilian Real is not widely accepted outside Brazil. Therefore, it is advisable to exchange currency before traveling to Brazil or utilize local banking services.
Here is a table showcasing the current exchange rates for the Brazilian Real (BRL) against a few major currencies:
| Currency | Brazilian Real (BRL) |
|---|---|
| US Dollar (USD) | 1 USD = X BRL |
| Euro (EUR) | 1 EUR = X BRL |
| British Pound (GBP) | 1 GBP = X BRL |
| Japanese Yen (JPY) | 1 JPY = X BRL |
Please note that exchange rates may vary and it is always recommended to check with trusted financial sources or banks for the most up-to-date rates.
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Brazilian President Lula is advocating for the creation of a common currency among the BRICS countries, consisting of Brazil, Russia, India, China, and South Africa, during his visit to Shanghai. This proposal is likely to please China, as they have been challenging the dominance of the US in recent years. Lula’s visit also includes stops at a Chinese tech company sanctioned by the US, showcasing Brazil’s cooperation with China despite tensions with the US. Lula is expected to meet with Chinese leader Xi Jinping to sign trade and investment agreements and discuss various issues, including the war in Ukraine.
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reaisreal, monetary unit of Brazil. Each real (plural: reais) is divided into 100 centavos. The Central Bank of Brazil (Banco Central do Brasil) has the exclusive authority to issue banknotes and coins in Brazil. Coins are issued in denominations ranging from 1 centavo to 1 real.
› Currency
The Brazilian real (pl. reais; sign: R$; code: BRL) is the official currency of Brazil. It is subdivided into 100 centavos.
The Brazilian Real is the official currency of the Federative Republic of Brazil and is represented by the ISO code BRL.
The currency in Brazil is the Brazilian real. As the official legal tender in Brazil, the Brazilian real is officially recognized by the Brazilian government, meaning you can use it to settle all financial obligations in the country, including paying for goods, services, taxes, and debts.
The official currency of Brazil (country code: BR) is the Brazilian real, with symbol R$ and currency code BRL.
The currency is the Brazilian Real. We suggest using ATMs to obtain the majority of your cash on your trip to Brazil. Take two different cards (for example one credit, one debit – preferably Visa, MasterCard or American Express) in case one is not accepted.
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1 USD = 4.7314 BRL Jul 29, 2023 15:09 UTC.
The best currency to take to Brazil is the local currency, the Brazilian real. US dollars are also highly exchangeable at local banks and currency exchange offices. However, instead of converting physical banknotes, the cheapest way to pay in Brazil is to use a multi-currency travel debit card like Revolut or Wise.