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The Brazilian real (pl. reais; sign: R$; code: BRL) is the official currency of Brazil. It is subdivided into 100 centavos. The Central Bank of Brazil is the central bank and the issuing authority. The real replaced the cruzeiro real in 1994. As of April 2019, the real was the twentieth most traded currency. [1]
Not considering inflation, one modern Brazilian real is equivalent to 2,750,000,000,000,000,000 times the old real, that is, 2.75 × 10 18 (2.75 quintillion) réis. Before leaving Brazil in 1821, the Portuguese royal court withdrew all the bullion currency it could from banks in exchange for what would become worthless bond notes; [ 12 ] [ 13 ]
Until 1747 the Brazilian real was the same as the Portuguese real, with the gold peça of 13.145 g fine gold worth 6,400 réis or 6 400. After that date, however, the Brazilian real started to become a separate currency unit when the value of the peça was raised by 10% in Brazil (but not in Portugal) to 7,040 réis. [2]
The image above depicts a unit of currency issued by the Central Bank of Brazil. According to the Industrial Property Law (Law 9.279 of May 14, 1996), Chapter II Section 124, brazilian money belongs to the Union, and all the works subsidized by the Union are not their domain ( Law 9.610 of February 16 2008, Title I Article 6 ).
Brazil's central bank has repeatedly intervened in local currency markets to stem the real's slide but so far has largely failed to stop the bleeding. Economists say the currency's weakness, which will increase costs of Brazilian imports, could trigger inflation as soon as January.
Brazilian cruzado – Brazil; Brazilian cruzado novo – Brazil; Cruzeiro Brazilian cruzeiro (old) – Brazil; Brazilian cruzeiro novo – Brazil; Brazilian cruzeiro (3rd iteration) – Brazil; Brazilian cruzeiro real – Brazil; Cupon – Moldova; Cryptocurrency – Internet-based currency; Customs gold unit – Republic of China (1912–1949)
Debt and stock markets in Brazil have been shaken this week amid a deep plunge in the country's real. The currency has become the worst performer against the dollar, hitting a record low on Wednesday.
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