Braziliaanse Munteenheid

What is the Brazilian Currency?

Currency Name and History

What's the Real?

The Brazilian currency is called the real (BRL). It was introduced on July 1, 1994, to replace the previous currency, the cruzeiro real. The real is subdivided into 100 centavos.

History of the Real

The real was created as part of a government plan to stabilize the Brazilian economy. Since its inception, the real has been through several periods of devaluation and appreciation.

Coins and Banknotes

Coins

Real coins are available in denominations of 1, 5, 10, 25, 50 centavos, and 1 real. The coins are made of steel, bronze, or cupronickel.

Banknotes

Real banknotes are available in denominations of 2, 5, 10, 20, 50, and 100 reais. The banknotes are made of polymer.

Exchange Rate

Current Exchange Rate

As of August 2023, the exchange rate between the real and the US dollar is approximately 1 USD = 5.19 BRL.

Factors Affecting Exchange Rate

The exchange rate of the real is affected by various factors, including economic growth, inflation, and interest rates.

Where to Exchange Currency

Exchange Bureaus

You can exchange currency at exchange bureaus located in airports, banks, and hotels.

Banks

Banks also offer currency exchange services. However, their rates may be less competitive than those offered by exchange bureaus.

Tips for Exchanging Currency

Compare Exchange Rates

Before exchanging currency, compare the rates offered by different exchange bureaus and banks to get the best deal.

Avoid Airport Exchange Bureaus

Airport exchange bureaus typically offer less favorable rates than exchange bureaus located in other areas.

Use a Credit or Debit Card

Using a credit or debit card to make purchases in Brazil is often more convenient and cost-effective than exchanging currency.