Currencies Facts Major Currencies Brazilian Real

Brazilian Real Currency

BRL

Description

The Brazilian real (BRL) is the official currency of Brazil. It is divided into 100 centavos. The symbol of the Brazilian real is R$.

Economy

  • The country is rated as an advanced emerging economy, ranking as the world’s 13th largest economy by GDP in 2020.
  • In 2020, unemployment was estimated at almost 15 percent.
  • The main industries include aircraft, textiles, iron ore, steel, cement, shoes and chemicals.
  • Export products include: aircraft, coffee, soybeans, cotton, sugar cane, tobacco, bananas, oranges, steel, iron ore, machinery, transport equipment, automotive parts and machinery.
  • Import products include: chemical products, electronics, machinery, oil and transport equipment.

History

  • In 1994, the Brazilian real replaced the cruzeiro real at the rate of 1 Brazilian real to 2,750 cruzeiro reals, the average exchange rate of the US dollar. It was done to stabilise the country’s economy.
  • From 1996 to 1998, the Central Bank of Brazil controlled the exchange rate of the Brazilian real and the US dollar.
  • In 1999, the Brazilian real became a floating currency, experiencing a significant devaluation amounting to 1 USD = 2 BRL.
Brazilian Real (BR) Profile
Symbols R$
Names None
ISO 4217 code BRL
Central bank Central Bank of Brazil
Currency subunits Centavo = 1/100
Denominations Banknotes: R$2, R$5, R$10, R$20, R$50, R$100, R$200
Coins: 5, 10, 25, 50 centavos, R$1
Countries using this currency Brazil
Currencies pegged to PHP None
BRL is pegged to None

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