The real was the official currency from 1690 to 1942, and at that time it was not subdivided. It was then replaced by the cruzeiro from 1942 until 1986 and again in 1990 until 1993. The real in its 2009 form was implemented July 1, 1994 by President Itamar Franco.
The current exchange rate as of July 7th, 2009 is $1.00 U.S. equals R$1.97 Brazilian. The daily buy and sell rates are published on the Central Bank of Brazil's website, which has an English version.
Brazil has coins currently in circulation in denominations of 5, 10, 25, and 50 centavos as well as the R$1. The 1 centavo was discontinued in 2006.
Brazil also has paper money in denominations of R$1, R$2, R$5, R$10, R$20, R$50 and a rarely used R$100.
Each denomination of paper money is a different color making them easy to quickly distinguish. On the front they feature the effigy of the Republic and on the reverse side they each feature a different type of Brazilian wildlife.
In 2000, to honor the discovery of Brazil by the Portuguese, a special polymer R$10 note was issued. It features the Portuguese explorer Pedro Álvares Cabral, who discovered Brazil on April 22, 1500, on the front.
