About Paper Money in Brazil

The "real" is the paper currency used in Brazil today. The real is represented by its own monetary sign (R$) and is subdivided into 100 centavos. The Brazilian Central Bank is in charge of issuing paper money in Brazil, including special anniversary coins and banknotes.

Origins

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

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

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

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

Fun Fact

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.