2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
The Federative Republic of Brazil is world famous for its colorful carnivals, hot climate and, of course, coffee plantations. Rio de Janeiro, for example, is famous for its symbol, the statue of Christ the Redeemer. In general, Brazil is rich in attractions.
The cultural richness of a country can also be studied with the help of its currency: the Brazilian real is the national currency of the Republic, which can tell a lot about the history and unification of this state.
History of Brazilian Reals
The path to the introduction of a single national currency in Brazil symbolizes the process of universal unification and the emergence of an independent state. In the 17th century, the Spanish real was used in Brazil. It was replaced by a Brazilian flight in 1652 and lasted for almost 3 centuries until 1942.
Difficult for the world economy, including Brazil, the crisis of 1942 led to a fleeting depreciation of the flight. Therefore, the government decided to introduce a new currency - cruzeiro. Unfortunately, she, too, could not hold her position for a long time and depreciated completely in 1986.
The lost currency was replaced by a new one -cruzado. But economic practice showed instability, due to financial shocks, the leadership of the republic was forced to make changes again. So in 1993, the cruzeiro real appeared, but, alas, the economic situation turned out to be even more tense, leading to a rapid total denomination of this currency as well. On July 1, 1994, Brazilian reals entered circulation.
To date, the currency has a stable position and tends to stay in circulation for a long time. Since 1994, there have been several reissues of money, which entailed qualitative changes in the attributes of authenticity identification.
Denomination and appearance of Brazilian currency
It should be noted that Brazilian reais are divided into centavos at a ratio of 1 to 100.
In circulation there are paper banknotes of the following denominations: 1, 2, 5, 10, 20, 50, 100 reais. The denominations of the republic have the same image on the front: a bust of a statue with a laurel crown, which is an allegorical symbol of all of Brazil. On the other hand, the choice of image for the reverse side is unusual: each bill depicts one of the animals living in Brazil and its coastal waters: a hummingbird, a sea turtle, a lake great egret, a macaw parrot, a lion tamarin monkey, a jaguar and a grouper fish.
Brazilian reais, presented as coins, have the following denominations: 1, 5, 10, 25, 50 centavos, 1 real. All of them are bimetallic, with the use of a galvanized coating, and a coin of denomination of 1 real additionally hasbrass bezel.
Brazilian reals in the global foreign exchange market
The dynamics of the real exchange rate against a basket of world currencies is stable, however, in the last 2 years, with a conditional reporting point in 2013, the Brazilian currency shows outstripping rates of decline, which is a negative sign of devaluation. The designation of the Brazilian real in the international financial market is BRL.
USD/BRL daily chart shown in the photo.
As of mid-January 2016, the market rate of the real against a basket of major world currencies:
- USD/BRL 4.0161.
- EUR/BRL 4.3679.
- GBP/BRL 5.8023.
- CAD/BRL 2.7996.
- AUD/BRL 0.6966.
- NZD/BRL 2.6225.
- RUR/BRL 0.5000.
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