BRL – Brazilian Real
Sign – R$ / Code – BRL
Long before our corporate currency exchange brokers were helping our clients with their Brazilian Real transfers, the Brazilian Real was creating its own rich history.
About the Brazilian Real
The modern real was introduced in 1994 to replace the Cruzeiro Real, requiring a massive banknote replacement.
Due to large capital flows from 1994 to 1995, the Real gained unexpected value against the US Dollar at a rate of $1.20.
However, the deterioration of the international markets meant that the Central Bank was forced to float the exchange rate, resulting in a major devaluation that would continue until 2002, at a rate of R$4 : $1.
The crisis subsided when the new government came to power in 2003. Since then, the Real has generally fluctuated upwards.
Subunit: Centavo – 1/100
Coins: 5 centavos, 10 centavos, 25 centavos, 50 centavos, R$1
Banknotes: R$2, R$5, R$10, R$20, R$50, R$100
Bank: Central Bank of Brazil