The Brazilian real completed 25 years on July 1st and became the most circulated currency in contemporary Brazilian history. It surpassed the cruzeiro, which lasted 24 years.
The currency was introduced during the presidency of Itamar Franco, as part of a broader plan to stabilize the Brazilian economy, known as the Real Plan. The new currency replaced the short-lived cruzeiro real (CR$).
Throughout history, Brazil has had different currencies as a consequence of the various economic problems the country has faced.
From the mid-17th century until 1942, the real was the only currency, until a monetary reform removed it from circulation. At that time, it was known as “réis,” the abbreviation of the plural form “reais.” Then, the cruzeiro was imposed, which was divided into 100 centavos and remained in circulation until 1986. That year, the cruzado was established, in circulation until 1989, equivalent to 1,000 of the old cruzeiros and also divided into 100 centavos.
The cruzeiro real, equivalent to 1,000 cruzeiros, returned in 1993 for a whole year, until the country returned to the Brazilian real, after many years of inflation. This time, the real came to stay, in order to provide the country with a stable currency.
The banknotes of Brazilian reals were printed at the “Casa da Moeda” in Rio de Janeiro, and 900 million coins were distributed, with the Government investing ten million dollars to put this new currency into circulation.
In the years 1998 and 2010, new series were issued with new designs to improve the security of the notes and prevent counterfeiting.
Interesting Facts about the Real
The R$1 note can reach a value of R$100 for collectors because it is no longer printed and is rarely seen in circulation.
There are still 150 million R$1 coins in circulation.
Brazil has other currencies besides the real. There can be up to 81 different currencies that complement the country’s economy, recognized by the Central Bank of Brazil, which have been minted by community banks to stimulate the economy in some regions like São Paulo or Rio de Janeiro.
Brazil has changed its currency at least 8 times in just 50 years.
The more modern real notes, in circulation since 2010, have different sizes and are printed with different technologies that ensure their authenticity.