Brazilian Cruzeiro (1942–1967)

Brazil’s real (plural: reais; symbol: R$) is the official currency of Brazil. It was introduced in 1994, replacing the cruzeiro real. The real is subdivided into 100 centavos (hundredths). The name "real" comes from Latin root res ("thing"; pl. rei), while the name "centavo" comes from the Latin root centum ("hundred"). In Portuguese, "centavo" is a noun, meaning "cent", while in English, "cent" is a verb meaning "to coin or mint". Thus, "centavos" translates as "coins" or "mintings", just as "cents" translates as "coins" or "mintage". Both reais and centavos are masculine in gender, but they are declined differently. The real was worth approximately US$0.20 when it was first introduced. As of June 2017, the real is worth about US$0.31. The real has experienced both devaluation (a fall in value) and revaluation (a rise in value) against the US dollar. In 2002, the real was devalued in a managed float, with a minimum exchange rate of R$2.50 per US$1. This was done in order to contain inflationary pressures and to avoid further currency instability, as had happened in the early 1990s. The real was revalued on January 1, 2006, at a rate of R$2.40 per US$1. This represented a 5.88% appreciation against the US dollar, and a 34% real effective appreciation of the Brazilian currency since the introduction of the real. As of October 2009, the real is once again worth approximately US$0.50. The real has been relatively stable since its introduction, though it has shown some volatility in response to international events. For example, the real weakened in value during the 1998 global financial crisis, and strengthened in the aftermath of the September 11, 2001 terrorist attacks in the United States.