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The Brazilian real (pl. reais; sign: R$; code: BRL) is the official currency of Brazil. It is subdivided into 100 centavos. The Central Bank of Brazil is the central bank and the issuing authority. The real replaced the cruzeiro real in 1994. As of April 2019, the real was the twentieth most traded currency. [1]
Not considering inflation, one modern Brazilian real is equivalent to 2,750,000,000,000,000,000 times the old real, that is, 2.75 × 10 18 (2.75 quintillion) réis. Before leaving Brazil in 1821, the Portuguese royal court withdrew all the bullion currency it could from banks in exchange for what would become worthless bond notes; [12] [13]
The (first) cruzeiro (Cr$ or C$) was the official currency of Brazil from 1942 to 1967. [1] It replaced the old real (pl. réis), which had been in use since colonial times, at the rate of Rs 1$000 = Cr$1, It was in turn replaced by the cruzeiro novo, at the rate of Cr$1,000 = NCr$1.
US Dollar (37) Euro (28) Composite (8) Other (9) No separate legal tender (16) Ecuador El Salvador Marshall Islands Micronesia Palau Panama Timor-Leste Andorra Monaco San Marino Vatican City Kosovo Montenegro Kiribati Nauru Tuvalu; Currency board (11) Djibouti Hong Kong ; ECCU Antigua and Barbuda Dominica
It is the world's largest reserve currency, [2] the resulting economic value of which benefits the U.S. at over $100 billion annually. [3] However, its position as a reserve currency damages American exporters because this increases the value of the United States dollar.
Until 1747 the Brazilian real was the same as the Portuguese real, with the gold peça of 13.145 g fine gold worth 6,400 réis or 6 400. After that date, however, the Brazilian real started to become a separate currency unit when the value of the peça was raised by 10% in Brazil (but not in Portugal) to 7,040 réis. [2]
The cruzeiro real (‖, plural: cruzeiros reais) was the short-lived currency of Brazil between August 1, 1993, and June 30, 1994. It was subdivided in 100 centavos; however, this subunit was used only for accounting purposes, and coins and banknotes worth 10 to 500 of the preceding cruzeiro remained valid and were used for the purpose of corresponding to centavos of the cruzeiro real ...
Particularly in professional contexts, the unambiguous ISO 4217 three letter code (AUD, MXN, USD, etc.) is preferred. The dollar sign, alone or in combination with other glyphs, is or was used to denote several currencies with other names, including: Brazilian cruzeiro (various currencies, all defunct): ₢$, CR, Cr, NCr, etc. Brazilian real: R$