Brazilian Real - BRL
The Brazilian Real (BRL) is the official currency of Brazil. It is divided into 100 centavos. The symbol for the Brazilian Real is R$. Brazil uses the period to separate thousands and the comma to separate decimals. In 1994, the new Real was introduced.
- Brazil has a free-market economy.
- The GDP growth is 5% and is Brazil is rated as a fast-growing economy.
- Predictions are that Brazil’s economy will be the 5th largest in the world.
- Unemployment is estimated at 6%.
- The main industries are coal, airplanes, consumer products, textiles, ore, iron, steel, cement, fertilizers, toys, electronics, and armaments.
- Export products are footwear, coffee, paper, steel, machinery, transport equipment, automotive parts, and machinery.
- Import products are chemical products, electronics, machinery, oil, and transport equipment.
- The new modernized Real was introduced in 1994 to stabilize the Brazilian economy. At that stage the exchange rate was 1 Real = 1 USD.
- The first series of Real coins was launched in 1994 and they were used until 1997.
- From 1996 to 1998, the Central Bank of Brazil controlled the exchange rate.
- The second series of real coins were introduced in 1998 and are still being used.
- In 1999, the new President of the Central Bank decided to release the control over the exchange rate and the real suffered a massive devaluation to 2 Real = 1 USD.
- In 2002, the real reached its lowest exchange rate against the USD (4 Real = 1 USD).
- Since 2002, the real has been fluctuating; only in 2007 was it rated higher than the USD, reaching 0.5 Real = 1 USD.
- In 2004, new polymer banknotes were launched.
Symbols and Names
- Symbols: R$
- Nicknames: none
- Centavo = 1/100 of a Real
- Bills: R$1, R$2, R$5, R$10, R$20, R$50, R$100
- Coins: 5, 10, 25, 50 centavos. R$1
Countries Using This Currency
Currencies Pegged To BRL