Real, The Brazilian Currency

Real (pl. Reais) is the present-day currency of Brazil. It is represented by the symbol R$.

Real was introduced on July 1, 1994, during the presidency of Itamar Franco, when Fernando Henrique Cardoso was the Minister of Finance, as part of a broader plan to stabilize the Brazilian economy, known as the Plano Real.

This monetary reform aimed to put an end to three decades of rampant inflation. At the time it was meant to have approximately fixed 1:1 exchange rate with the United States dollar. The current exchange rate is approximately R$ 2.00 to U$1.00.

Source: Wikipedia