Brazilian real – wikipedia p gasol stats


The modern real (Portuguese plural reais or English plural reals) was introduced on 1 July 1994, during the presidency of Itamar Franco, when Rubens Ricupero was the Minister of Finance, as part of a broader plan to stabilize the Brazilian economy, known as the Plano Real. The new currency replaced the short-lived cruzeiro real (CR$). The reform included the demonetisation of the cruzeiro real and required a massive banknote replacement.

At its introduction, the real was defined to be equal to 1 unidade real de valor (URV, "real value unit") a non-circulating currency unit. At the same time the URV was defined to be worth 2750 cruzeiros reais, which was the average exchange rate of the U.S. dollar to the cruzeiro real on that day. As a consequence, the real was worth exactly one U.S. dollar as it was introduced. Combined with all previous currency changes in the country’s history, this reform made the new real equal to 2.75 × 10 18 (2.75 quintillions) of Brazil’s original "réis".

Soon after its introduction, the real unexpectedly gained value against the U.S. dollar, due to large capital inflows in late 1994 and 1995. During that period it attained its maximum dollar value ever, about US$1.20. Between 1996 and 1998 the exchange rate was tightly controlled by the Central Bank of Brazil, so that the real depreciated slowly and smoothly in relation to the dollar, dropping from near 1:1 to about 1.2:1 by the end of 1998. In January 1999 the deterioration of the international markets, disrupted by the Russian default, forced the Central Bank, under its new president Arminio Fraga, to float the exchange rate. This decision produced a major devaluation, to a rate of almost R$2 : US$1. [8]

In the following years, the currency’s value against the dollar followed an erratic but mostly downwards path from 1999 until late 2002, when the prospect of the election of leftist candidate Luiz Inácio Lula da Silva, considered a radical populist by sectors of the financial markets, prompted another currency crisis and a spike in inflation. Many Brazilians feared another default on government debts or a resumption of heterodox economic policies, and rushed to exchange their reais into tangible assets or foreign currencies. In October 2002 the exchange rate reached its historic low of almost R$4 per US$1.

The crisis subsided once Lula took office, after he, his finance minister Antonio Palocci, and Arminio Fraga reaffirmed their intention to continue the orthodox macroeconomic policies of his predecessor (including inflation-targeting, primary fiscal surplus and floating exchange rate, as well as continued payments of the public debt). The value of the real in dollars continued to fluctuate but generally upwards, so that by 2005 the exchange was a little over R$2 : US$1. In May 2007, for the first time since 2001, the real became worth more than US$0.50 — even though the Central Bank, concerned about its effect on the Brazilian economy, had tried to keep it below that symbolic threshold.

Along with the first series of currency, coins were introduced in denominations of 1, 5, 10 and 50 centavos and 1 real; the 25 centavos piece soon followed. All were struck in stainless steel. The original 1-real coins, produced only in 1994, were withdrawn from circulation on 23 December 2003; [9] all other coins remain legal tender. First series

In 1998, a second series of coins was introduced. It featured copper-plated steel coins of 1 and 5 centavos, brass-plated steel coins of 10 and 25 centavos, a cupronickel 50 centavos coin, and a bi-coloured brass and cupronickel coin of 1 real. However, from 2002 onwards, steel was used for the 50 centavos coin and the central part of the 1 real coin.

Reverse: Depicts Joaquim José da Silva Xavier (also known as Tiradentes), martyr of an early independence movement known as the Minas Conspiracy. In the background, a triangle, symbol of the movement, and a dove, symbol of peace and freedom.

Reverse: Depicts José Paranhos, Jr., the 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 development of Brazil’s foreign policy and the expansion and demarcation of the national borders.

Reverse: The 10 centavos coin depicts hands offering a plant shoot with folious ramifications, and the 25 centavos coin depicts crop cultivation. Both coins contain the inscriptions "FAO – 1945/1995" and "alimentos para todos" (food for all). [10] [11]

Reverse: The official logo of the commemorations; in bas-relief, a human figure. In the outer ring, the inscriptions "Declaração Universal dos Direitos Humanos" (Universal Declaration of Human Rights) and "Cinqüentenário" (50th anniversary). [12]

Reverse: A face portrait of Kubitschek. Vertically, the inscription "Centenário Juscelino Kubitschek" (Juscelino Kubitschek’s centenary). In the outer ring, images alluding to the columns of the Alvorada Palace, the Presidential residence in Brasília, the city that he decided would be built. [13]

Reverse: Image of the trademark Central Bank building, inspired in the official logo developed for the commemorations. In the outer ring, the inscriptions "Banco Central do Brasil" (Central Bank of Brazil) and "1965 40 anos 2005" (1965 40 years 2005). [14]

Reverse: The Olympic Flag in a pole above the official logo of the Games of the XXXI Olympiad. In the outer ring, the inscriptions "Entrega da Bandeira Olímpica" (Olympic Flag Handover) and "Londres 2012 – Rio 2016" ( London 2012 – Rio 2016) [15]

Reverse: Sixteen coin designs, representing athletics ( triple jump), swimming, paralympic triathlon, golf, basketball, sailing, paralympic canoeing, rugby, football, volleyball, paralympic athletics ( running), judo, boxing, paralympic swimming, and each mascot of the 2016 Summer Olympics and Paralympics. [15]