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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.
Since colonial times, the main currency in Brazil had been the real; first the same as the Portuguese currency, and a separate currency after the country's independence in 1822. On 1 November 1942 the real was replaced by a new currency, the "cruzeiro", officially worth Rs 1$000 ( mil réis , pronounced mirréis ) — which had long been used ...
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]
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 ...
Brazilian cruzeiro refers to any of four distinct Brazilian currencies: . Brazilian cruzeiro (1942–1967), worth 1000 Brazilian réis. Brazilian cruzeiro (1967–1986), denominated cruzeiro novo between 1967 and 1970 in the transition from the previous standard banknotes to the new banknotes issued by Casa da Moeda do Brasil to avoid confusion between the old and the new currency, worth 1000 ...
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 Central Bank of Brazil (Portuguese: Banco Central do Brasil, pronounced [ˈbɐ̃ku sẽˈtɾaw du bɾaˈziw]) is Brazil's central bank, the bank is autonomous in exercising its functions, and its main objective is to achieve stability in the purchasing power of the national currency. It was established on Thursday, 31 December 1964.
The cruzado was the currency of Brazil from 1986 to 1989. It replaced the second cruzeiro (at first called the "cruzeiro novo") in 1986, at a rate of 1 cruzado = 1000 cruzeiros (novos) and was replaced in 1989 by the cruzado novo at a rate of 1000 cruzados = 1 cruzado novo.