Paper Money Book
Brazil flag
Bank of Brazil

Official country name: Federative Republic of Brazil

Brazil arms

The Brazilian Real (BRL) is the official currency of Brazil. The symbol for the Brazilian Real is R$. Brazil uses the period to separate thousands and the comma to separate decimals.

Currency history

  • The new modernized Real was introduced in 1994 to stabilize the Brazilian economy. At that stage the exchange rate was 1 Real = 1 USD.
  • The first series of Real coins was launched in 1994 and they were used until 1997.
  • From 1996 to 1998, the Central Bank of Brazil controlled the exchange rate.
  • The second series of real coins were introduced in 1998 and are still being used.
  • In 1999, the new President of the Central Bank decided to release the control over the exchange rate and the real suffered a massive devaluation to 2 Real = 1 USD.
  • In 2002, the real reached its lowest exchange rate against the USD (4 Real = 1 USD).
  • Since 2002, the real has been fluctuating; only in 2007 was it rated higher than the USD, reaching 0.5 Real = 1 USD.
  • In 2004, new polymer banknotes were launched.

1 Real = 100 Centavos; ISO code = BRL 986

14th October 2026, 1 USD = 5.56 reais; 1 Euro = 6.47 reais

Country state: Complete

BRAZIL IS DIVIDED INTO THE FOLLOWING SECTIONS

Pick NumbersIssuerPeriod
P1 – 93República1893 to 1921
P94 – 102FCaixa de Conversão1906 to 1910
P103 – 109FCaixa de Estabilização1926
P110 – 123 & P131ABanco do Brasil1923
P125 – 131Casa da Moeda1942
P132 – 182República1943 to 1964
P182A – 258Banco Central do Brasil1965 – today

BANCO DO BRASIL

In 1923, the Banco do Brasil played a central role in a profound economic and monetary reform that completely reshaped the country’s financial system [Banco do Brasil (Série 1923)]. The year 1923 marks the moment when the Banco do Brasil (BB) gained the monopoly on currency issuance in the country and began acting, in a limited capacity, as Brazil’s very first blueprint for a Central Bank.

1. The 1923 Reform: Monopoly of Issuance
To curb rising inflation and the devaluation of the Mil-Réis, President Artur Bernardes enacted a reform through Law No. 4,635-A on January 8, 1923.
    • The End of Treasury Notes: The National Treasury lost its right to issue paper money.
    • Central Bank Role: The Banco do Brasil assumed the exclusive right to issue banknotes convertible into gold, receiving funds to gradually withdraw the devalued old Treasury notes from circulation. This experiment lasted until mid-1926.

2. Numismatic Features of the 1923 Banknotes
The banknotes from this series are considered some of the most beautiful and intricate in the history of Brazilian paper money. They carry an explicit inscription of the legislation of the time: “De acordo com a Lei nº 4635-A de 8 de Janeiro de 1923” (In accordance with Law No. 4635-A of January 8, 1923).
  • Prestigious Manufacturer: The entire series was ordered from the renowned American Bank Note Company (New York) [1 Mil Réis (Banco do Brasil, 1st. Print)]. It utilized the intaglio printing technique (talho-doce) with high-security geometric guilloches to prevent counterfeiting.
  • Hand-Signed Autographs: The notes that entered circulation carried one or two hand-written signatures by bank officials to validate their legitimacy.
3. Provisional Emergency Issues
Since producing new printing plates and shipping notes from the American Bank Note Company took several months, the Banco do Brasil adopted an immediate provisional solution in 1923: they took notes that had already been printed for the National Treasury and applied a red text overprint (stamp) on the left side with the phrase: “No Banco do Brasil, e de acordo com a lei nº 4635-A de 8 de Janeiro de 1923, se pagará ao portador…” (At the Banco do Brasil, and in accordance with law no. 4635-A of January 8, 1923, it will be paid to the bearer…). These pieces circulated until they were definitively recalled in the 1940s with the introduction of the Cruzeiro.
 
  • L. 4635 – 08.01.1923 Provisional “No Banco do Brasil” Issue

   

500 Mil Reis P-110S; B- Color: Yellow and black  Dimensions:  mm

Front: Steam train, allegorical man.
Back: Arms.
Printer: Casa da Moeda, Rio de Janeiro.
Date: L. 08.01.1923. Series: Estampa 1.
Signatures: 

   

1000 Mil Reis P-110A; B- Color:  Dimensions:  mm

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  • L. 4635 – 08.01.1923 Regular Issue

   

1 Mil Reis P-110B; B- Color:  Dimensions:  mm

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2 Mil Reis P-111; B- Color:  Dimensions:  mm

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5 Mil Reis P-112; B- Color:  Dimensions:  mm

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5 Mil Reis P-113; B- Color:  Dimensions:  mm

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10 Mil Reis P-114; B- Color:  Dimensions:  mm

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10 Mil Reis P-115; B- Color:  Dimensions:  mm

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20 Mil Reis P-116; B- Color:  Dimensions:  mm

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20 Mil Reis P-117; B- Color:  Dimensions:  mm

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50 Mil Reis P-118; B- Color:  Dimensions:  mm

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50 Mil Reis P-119; B- Color:  Dimensions:  mm

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100 Mil Reis P-120; B- Color:  Dimensions:  mm

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200 Mil Reis P-121; B- Color:  Dimensions:  mm

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500 Mil Reis P-122A; B- Color:  Dimensions:  mm

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1000 Mil Reis P-123; B- Color:  Dimensions:  mm

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  • ND (1944) Emergency “1 Mil Reis = 1 Cruzeiro” Issue

     

1 Mil Reis P-131A; B- Color:  Dimensions:  mm

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Terms of import and export of currencies

Currency Import regulations:
Same regulations as for export apply.

Currency Export regulations:
Local currency (Brazilian Real-BRL) and foreign currency: no restrictions up to BRL 10,000. – or equivalent.
Amounts higher than BRL 10,000. – or equivalent: must be declared.

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