The Brazilian real (R$) is the official currency of Brazil, divided into 100 centavos. Banknotes are issued in 1, 2, 5, 10, 20, 50, and 100 denominations, and coins in 1 real and 1, 5, 10, 25, and 50 centavos. The first real was used from 1690 to 1942. The current version was introduced in 1994 to stabilize the economy. It became the 12th most traded currency in 2016 but hit historic lows against the US dollar during the 2020 economic crisis.