Brazil currency is known as Real. The name Real was introduced in 1994 with the symbol ‘R$’. The Brazil currency underwent many changes over the years due to different kinds of economic conditions prevailing during that period. Brazil currency comprises of R$100, R$50, R$20, R$10, R$5, R$2 and R$1.
Brazilian currency has the image of animals along with the image of a female character on the other side. The character of the female represents Brazil. Brazil currency also consists of coins. The value of coins are 5 cents, 1 cent, 10 cents, 50 cents, 25 cents and finally 1 Real. Coins differ in color and size depending on the denomination.
One gets to see limited number of travelers check. A traveler visiting Brazil is required to exchange the currency prior to making any payment of bills. The payment is to be made in Reais. Transactions involving the American dollar and Euro is also not very common.
As a rule, Brazilians are not permitted to have dollars in their bank accounts. The bills and the receipts produced in restaurants, hotels or other Brazilian organization accept payments only in Reais.
Business firms dealing with Brazil currency exchange is also prevalent in Brazil. These firms known as ‘Casas De Cambio’, provide exchange of currency. Coins are available with values 10 cents, 25 cents, 50 cents. 1 cent, 1 Real. One Real is equivalent to R$0.01.
How Brazil currency Real evolved:
Owing to the fluctuating conditions of the economy and due to escalating rates of inflation prevailing during 80s and the mid 90s, Brazil currency had to undergo many transformations. After many changes, the Brazil currency finally metamorphosed to Real.
Cruzeiros was the currency used in Brazil till the year 1986. Cruzeiro changed to Cruzado. After few years Cruzado changed to Cruzado Novos. Cruzeiro made a reappearance in the year 1993. Real was the name given to the stable Brazil currency used world wide these days.
Last Updated on : 25th June 2013