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This page was last edited on 27 January 2020, at 00:38 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
The Brazilian real (pl. reais; sign: R$; code: BRL) is the official currency of Brazil.It is subdivided into 100 centavos.The Central Bank of Brazil is the central bank and the issuing authority.
A currency [a] is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. [1] [2] A more general definition is that a currency is a system of money in common use within a specific environment over time, especially for people in a nation state. [3]
Not considering inflation, one modern Brazilian real is equivalent to 2,750,000,000,000,000,000 times the old real, that is, 2.75 × 10 18 (2.75 quintillion) réis. Before leaving Brazil in 1821, the Portuguese royal court withdrew all the bullion currency it could from banks in exchange for what would become worthless bond notes; [13] [14]
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Between 1850 and 1893, a number of private banks issued paper money in denominations between 10 and 500 mil réis. They included a later Banco do Brazil (1853–1890), the Banco do Maranhão (1857–1885) and the Banco da República dos Estados Unidos do Brasil (1890–1892). Regional governments issued paper money between 1892 and 1897.
Boleto bancário, simply referred to as boleto (English: bank ticket) is a payment method in Brazil regulated by (FEBRABAN).. A boleto, which can be considered a proforma invoice, can be paid at ATMs, branch facilities and internet banking of any bank, post office, lottery agent and some supermarkets until its due date.
The Central Bank of Brazil (Portuguese: Banco Central do Brasil, pronounced [ˈbɐ̃ku sẽˈtɾaw du bɾaˈziw]) is Brazil's central bank, the bank is autonomous in exercising its functions, and its main objective is to achieve stability in the purchasing power of the national currency. It was established on Thursday, 31 December 1964.