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About Paper Money in Brazil

Tuesday, May 12, 2009
Related Tags: brazil | denominations | reais | banknotes | portugese
 

Instructions

Origins

  • Step 1:
    The first paper money in Brazil was issued between 1770 and 1793, to pay diamond inspectors. Denominations were written on the banknotes at the time of issue.

Private Banks

  • Step 1:
    The first private Banco de Brazil began issuing paper money in 1810. Original denominations were 30, 40, 50, 60, 70, 80, 90, 100, 200, 300 and 400 mil reis. Denominations changed over time, and "reis" banknotes eventually faded out of use.

Modern Money

  • Step 1:
    Since 1994, Brazilians have used the "real" (plural "reais") as a unit for their paper money. Originally issued in denominations of 1, 5, 10, 50 and 100, the government introduced a 2 real note and a 20 real note in 2002, and in 2006 they discontinued production of the 1 real banknote.

Conversion

  • Step 1:
    As of May 2009, 1 Real = .43 U.S. dollars, and 1 U.S. dollar = 2.31 Reais.

Fun Fact

  • Step 1:
    To honor the 500th anniversary of the Portugese arrival in Brazil, the Brazilian Central Bank issued a polymer 10 real banknote. This paper money featured an image of Pedro Cabral, the Portugese sea captain on the front, and a map of Brazil decorated with photographs that represented the ethnicities of Brazil on the reverse.

About Paper Money in Brazil Provided by eHow.com
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