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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; [13] [14]
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
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]
They're both denominated U.S. dollars. And the issue is that the Brazilian real weakened a lot during the fourth quarter by 14%, worst performing currency in the world.
The Brazilian real is the national currency. Brazil's diversified economy includes agriculture, industry and a wide range of services. [274] The large service sector accounts for about 72.7% of total GDP, followed by the industrial sector (20.7%), while the agriculture sector is by far the smallest, making up 6.6% of total GDP. [275]
On 3 November 2020, the bill of the Independence of Central Bank passed the Senate, by 56 votes to 12. [8] [9]And on 10 February 2021, in the Chamber of Deputies was approved by 339 votes in favor and 114 against without changes, going to President Jair Bolsonaro's sanction, generating the Federal Complementary Law No. 179 of 24 February 2021.
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