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Brazilian Currency
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Brazil's currency unit is
the real
(plural = reais)
and is made up of 100 centavos and written using the symbol
R$.
It has provided relative stability for Brazil since its introduction in
June, 1994. The rampant inflation of the early 1990's (often amounting
to over 1%
per day) is now only a distant memory.
The
real is
issued in denominations of 1
real (as both a note and a coin),
2
reais,
5
reais, 10
reais, 20
reais, 50
reais and 100
reais (rarely seen or used). Centavos are issued
in denominations of 1
centavo (rarely seen or used), 5
centavos,
10
centavos,
25 centavos and
50
centavos.
At its introduction in June,
1994, the exchange rate of the real was close to par with
the US dollar. Since then, it has fluctuated widely and at one point, in
mid August, 2000, dropped as low as R$ 4.03 = USD$ 1.00.
However, since then, the Brazilian
real has made the most
impressive gains against the US dollar of any currency in the world. As
of 2008, the dollar is at a seven year low against the real,
having lost close to 20% during 2007 alone. For travelers using
dollars, this decline in the value and exchange rate of the US dollar has
been and will continue to be costly.
For the latest, up to the
minute exchange rate for the Brazilian real to/from US dollars,
euros, British pounds, Japanese yen, etc., visit our free online Currency
Converter. For historical exchange rates of up to five years, visit
http://finance.yahoo.com/currency.
Also see information about Brazilian
banking and banks and view all the most
current Brazilian banknotes and coins in circulation including
their reverse/obverse sides.
You may see different exchange
rates listed in various places as commercial, tourist
and/or
parallel. All are usually within a few points of the others. The commercial
rate
is the rate most often used in commercial transactions as well as the one
most often used (but not always) by online currency
converters. The tourist rate is just what it implies, the
exchange rate a tourist can expect if exchanging, for example, dollars
for
reais at an airport, bank, hotel, authorized money exchange
or travel agency. The tourist rate is usually a little less than
the
commercial
rate. The parallel rate is often the basis
used by cambistas (black market money changers). For all rates,
there is also a different rate depending upon whether you're buying
or selling reais or buying or selling
another currency (e.g. dollars, euros, pounds, yen, etc.).
Caution!
Especially
when dealing with money, keep in mind that, in Brazil, the use of commas
(,) and periods (.) expressed in numerals is exactly the
opposite
of what is used in the United States. Brazilians use a period (.)
instead of a comma (,) —to delineate thousands—
and a comma (,) instead of a period (.) —to delineate fractions.
Normally, an amount in reais is written as R$, consequently,
R$
6,00 (with
a comma) is six reais and R$ 6.000
(with a period) is six thousand reais.
Likewise, for amounts with fractions (centavos), it's 1.045,25
instead of 1,045.25 (one thousand, forty
five reais and twenty five centavos) or R$
10,25 instead of R$ 10.25 (ten
reais
and twenty five centavos).