What Is the Currency of Brazil Called?

What Is the Currency of Brazil Called?

What Is the Currency of Brazil Called?

The currency of Brazil is called the Real, according to the XE website. The Real's currency code is BRL and its symbol is R$. The minor unit of the Real is the Centavo, which amounts to 1/100 R$.

The OANDA website, last updated in 2014, states that the most recent incarnation of the Real was introduced in 1994. The economy in Brazil is a free-market economy that is rated as fast-growing. It is expected to become the fifth largest globally. Around six percent of Brazilians remain unemployed. The Real has seen fluctuations in value since 2002, reaching higher value than the USD only in 2007.