What Is the Name of Brazilian Money?

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The name of Brazilian money is the Brazilian real (BRL), according to XE.com. The minor unit of the real is the centavo, which is worth 1/100 of a real. The symbol of Brazilian money is R$.

The OANDA Corporation states that the modern iteration of the real emerged in 1994, in an effort to bring stability to the Brazilian economy. At its launch, the currency was equivalent in value to the U.S. dollar. The Central Bank of Brazil issues the currency, which has fluctuated significantly in value since 2002. In 2007, which was its highest point as of 2014, the real was worth two U.S. dollars.