BRL information
About the Brazilian Real (BRL)
What Is the Brazilian Real (BRL)?
The Brazilian Real (BRL), symbolized as R$ and denoted by the ISO code BRL, is the official currency of Brazil. The term "real" in Portuguese means both "royal" and "real." The Brazilian Real is the sole legal tender in Brazil, used across this vast country, which is the largest in both South America and the Latin American region. It facilitates all forms of financial transactions within the nation, from everyday purchases to large-scale business dealings.
The Brazilian Real is issued and regulated by the Central Bank of Brazil (Banco Central do Brasil), which is the primary monetary authority in the country. Established on December 31, 1964, the Central Bank is responsible for ensuring the stability of the currency's purchasing power and the soundness of the national financial system.
What Is the History of BRL?
The modern Brazilian Real was introduced on July 1, 1994, during the presidency of Itamar Franco. This was part of the Plano Real, a substantial plan to stabilize the Brazilian economy. The currency replaced the cruzeiro real at a rate of 1 real = 2,750 cruzeiro real. Initially, the real was pegged to the U.S. dollar, which helped stabilize its value. However, in 1999, following the Russian debt default and ensuing global financial crisis, Brazil was forced to partially float the real against the U.S. dollar.
Notes and Coins of BRL
Brazilian coins are minted in denominations of 5, 10, 25, 50 centavos, and 1 Real. The banknotes, issued by the Central Bank of Brazil, come in denominations of 2, 5, 10, 20, 50, 100, and 200 Reals. These notes feature various security enhancements and are designed to aid the visually impaired.
Brazil has issued several commemorative coins and banknotes, including a 10 Real note for the 500th anniversary of Portuguese arrival and a 1 Real coin for the 2016 Summer Olympics.
What Is the Relationship Between BRL and USD?
The relationship between the Brazilian Real (BRL) and the United States Dollar (USD) is a significant aspect of international finance, particularly in the context of exchange rates and trade. Initially, upon its introduction in 1994, the Real was pegged to the U.S. dollar, establishing a fixed exchange rate to stabilize Brazil's then-volatile economy. This peg was part of Brazil's broader strategy to control hyperinflation and foster economic stability.
However, in 1999, Brazil shifted to a floating exchange rate system due to external economic pressures, notably the Russian debt crisis. Since then, the Real's value against the Dollar has been subject to market forces, including Brazil's economic performance, inflation rates, political stability, and global financial market trends. The USD/BRL exchange rate is a crucial indicator for both countries, influencing trade balances, investment flows, and economic policies.
SOC to BRL conversion rate trend
Conversion rate comparison of various exchanges
| Exchange | Price | Maker / Taker Fee | Tradable |
|---|---|---|---|
Bitget  Best | R$0.3466 | 0.0200% / 0.0320%  VIP 7 |
How to buy socrates
Buy SOC (or USDT) for BRL (Brazilian Real) offers
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Sell SOC (or USDT) for BRL (Brazilian Real) offers
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What factors influence the conversion rate of socrates to Brazilian Real?
socrates to Brazilian Real is rising this week.Conversion tables
The exchange rate of socrates is increasing.SOC to BRL
BRL to SOC
Today vs. 24 hours ago
| Amount | 16:17 today | 24 hours ago | 24h change |
|---|---|---|---|
| 0.5 SOC | $0.03001 | $0.02983 | +0.63% |
| 1 SOC | $0.06003 | $0.05965 | +0.63% |
| 5 SOC | $0.3001 | $0.2983 | +0.63% |
| 10 SOC | $0.6003 | $0.5965 | +0.63% |
| 50 SOC | $3 | $2.98 | +0.63% |
| 100 SOC | $6 | $5.97 | +0.63% |
| 500 SOC | $30.01 | $29.83 | +0.63% |
| 1000 SOC | $60.03 | $59.65 | +0.63% |
Today vs. 1 month ago
| Amount | 16:17 today | 1 month ago | 1M change |
|---|---|---|---|
| 0.5 SOC | $0.03001 | $0.{4}2491 | -82.72% |
| 1 SOC | $0.06003 | $0.{4}4982 | -82.72% |
| 5 SOC | $0.3001 | $0.0002491 | -82.72% |
| 10 SOC | $0.6003 | $0.0004982 | -82.72% |
| 50 SOC | $3 | $0.002491 | -82.72% |
| 100 SOC | $6 | $0.004982 | -82.72% |
| 500 SOC | $30.01 | $0.02491 | -82.72% |
| 1000 SOC | $60.03 | $0.04982 | -82.72% |
Today vs. 1 year ago
| Amount | 16:17 today | 1 year ago | 1Y change |
|---|---|---|---|
| 0.5 SOC | $0.03001 | $0.{4}2491 | -83.29% |
| 1 SOC | $0.06003 | $0.{4}4982 | -83.29% |
| 5 SOC | $0.3001 | $0.0002491 | -83.29% |
| 10 SOC | $0.6003 | $0.0004982 | -83.29% |
| 50 SOC | $3 | $0.002491 | -83.29% |
| 100 SOC | $6 | $0.004982 | -83.29% |
| 500 SOC | $30.01 | $0.02491 | -83.29% |
| 1000 SOC | $60.03 | $0.04982 | -83.29% |
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