CURRENT AFFAIRS

Detailed explanation-1: -In July 1994, the present-day currency, the Real, replaced the Cruzeiro Real, which circulated for only 10 months. The Real draws its name from the pre-1942 currency.

Detailed explanation-2: -The real is the legal tender in Brazil since 1994 and is currently the strongest currency in the whole of Latin America. This currency has suffered many changes due to the economic crises that the country has undergone.

Detailed explanation-3: -In writing, the currency is marked as R$. Notes are available in R$1, R$2, R$5, R$10, R$20, R$50, R$100, and centavos come in coins valued at 5, 10, 25, and 50.