The Brazilian real (denoted by R$) is the present-day currency of Brazil. A 100 centavos = 1 Real.
During monetary reform package in South America, the modern real was introduced in 1994 to end more than three decades of inflation in that region. During its introduction, it was pegged to the US dollar (1:1). It suffered a sudden devaluation to a rate of about 2:1 in 1999, after which in 2002 it reached almost 4:1. This was followed by a partial recovery after which it has been at approximately 2:1 since 2006.