Real (currency): Meaning (information, definition, explanation, facts)

The Real (plural reais) is the monetary unit (currency) of Brazil.

History

Past

The "Real" was the currency used by the first Portuguese settlers to arrive in the then New World, but the first official money to circulate bearing the name "Real" was actually printed in 1654 by the Dutch, during their occupation of part of the Brazilian Northeast. The first time the Real became Brazil's official currency was in 1690, and it would remain as such until 1942, when it was replaced with the Cruzeiro.

Millesimal Base

During that period, however, the Real did not have the centesimal base that it has today. Its plural spelled réis and it was counted in "thousand reais" (mil-réis). Accordingly, 1000 mil-réis formed one conto de réis, or simply conto (e.g.: an amount of $1,020,800.40 would be expressed as follows: Rs 1.020:800$400).

Present

It was implemented on 1 July 1994, during the presidency of Itamar Franco, when Fernando Henrique Cardoso was the Minister of Finances. The new currency's success paved the way to Mr. Cardoso's victory in the presidential election held in that same year.

It replaced the previous currency, the Cruzeiro. The Real was preceded by a conversion unit called URV (Portuguese: Unidade Real de Valor; English: "Real" Value Unit), which was meant to express values in the yet-to-be-implemented currency as opposed to those in the previous currency. On the 1st of July, 1994, 1 URV = Cr$2,750.00 (Cruzeiro value); 1 URV = 1 Real.

One of the main goals of the new currency was to end a period of high inflation and stabilize the currency exchange rate. 100 cents (centavos) = 1 Real. 3 reais = one Dollar. Its symbol is R$ and its abbreviation (ISO 4217) is BRL.

Value Front Back Side Illustrations 1 Front: Sphinx. As a bust. Back: Sapphire-spangled Emerald Hummingbird (Amazilia lactea). 2 Front: The Republic's sphinx, portrayed as a bust. Back: Hawksbill Turtle (Eretmochelys imbricata). 5 Front: The Republic's sphinx, portrayed as a bust. Back: Great Egret (Casmerodius albus). 10 Front: The Republic's sphinx, portrayed as a bust. Back: Greenwing Macaw (Ara chloreptera). 20 Front: The Republic's sphinx, portrayed as a bust. Back: Golden Lion Tamarin (Leonthopitecus rosalia). 50 Front: The Republic's sphinx, portrayed as a bust. Back: Jaguar (Panthera onca). 100 Front: The Republic's sphinx, portrayed as a bust. Back: Dusky Grouper (Epinephelus marginatus).

Plastic Bill

In April 2000, in celebration of the 500th anniversary of the Portuguese arrival on Brazilian shores, the Brazilian Central Bank released a plastic 10 reais bill that circulates along with the other bills above. It is made primarily of polymer.

The Brazilian Mint printed 250 million units, which at the time accounted for about half of the 10 reais bills in circulation.

Value Front Back Side 10

Illustrations

The plastic bill contains a more complex pattern, as follows:

Front:

• Image of Pedro Álvares Cabral, Portuguese sea captain;
• A representation of the map "Terra Brasilis", one of the earliest drawings of the land;
• A passage from Pero Vaz de Caminha's letter to King Manuel I of Portugal, the first known description of Brazil;
• A 16th century Portuguese Rose of Winds;
• To the right of the map, five ships from Cabral's expedition appear;
• In the background, decorative elements from Portuguese tiles can be seen;
• Finally, also in the background, the Cross from the Order of Christ, which was present in all Portuguese ships of the time, appears.

Back: A styled version of a map of Brazil with photographs depicting the ethnic variety of the Brazilian people (white, black, indian and mestizo).

For each denomination, two types of coin exist in Brazil. The original one, released in 1994, had stainless steel as its primary material. Those coins are called 1st Family. Later, the government decided to release a second set of coins, with different colors and sizes, to facilitate the use by the general public. Those are the 2nd Family. Both are equally valid, but the government has plans to eventually remove the 1st Family from circulation and keep only the second set of coins. On December 23, 2003, the 1st Family's one real coin was removed from circulation and is no longer valid. The process to completely replace it with the 2nd Family's coin is expected to be long and slow, and the old coin is still exchangeable for the new one at designated places (commercial banks, Central Bank agencies, etc.).

1st Family

Value	Front	Back Side
0,01
0,05
0,10
0,25
0,50
1

2nd Family

Value Front Back Side Engravings 0,01 Front: The South Cross (star constellation) in right upper side. Back: Depicts Pedro Álvares Cabral, Portuguese sea captain. 1500s Portuguese ship in the background. 0,05 ]] Front: The South Cross (star constellation) in right upper side. Back: Depicts Joaquim José da Silva Xavier (a.k.a. Tiradentes), martyr of early independence movement. In the background, a triangle, symbol of the movement, and a dove, symbol of peace and freedom. 0,10 ]] Front: The South Cross (star constellation) in right upper side. Back: Depicts Emperor Peter I, Brazil's first monarch. In the background, the Emperor on a horse: scene allusive to the proclamation of independence. 0,25 Front: The South Cross (star constellation) in right upper side. Back: Depicts Field Marshal Manuel Deodoro da Fonseca, Brazil's first Republican president. The Republic's coat of arms is in the background. 0,50 Front: The South Cross (star constellation) in right upper side. Back: Depicts José Maria da Silva Paranhos Júnior (a.k.a. Baron of Rio Branco), the country's most distinguished Minister of Foreign Affairs. In the background, image of the country with ripples expanding outwards, representing the expansion of Brazil's foreign policy and the solidification of the national borders. 1 Front: The South Cross (star constellation) in right upper side. Back: Outer ring depicts sample of marajoara art pattern. In the inner ring, the sphinx, symbol of the Republic.