Brazilian Rea (BRL)

QUOTE AND NEWS
TheStreet.com  May 18  Comment 
NEW YORK (TheStreet) -- Shares of Petrobras  rose 1.68% to $10.30 in morning trading Monday after the beleaguered Brazilian state-owned energy company reported a surprise first-quarter earnings beat on Friday. Petrobras posted a 1.2% decline...
Clusterstock  May 14  Comment 
SAO PAULO (Reuters) - Brazilian investigators believe 6.19 billion reais ($2.1 bln) in bribes were moved in a corruption scheme involving state-run oil firm Petroleo Brasileiro SA , prosecutor Deltan Dallagnol said on Thursday. Prosecutors are...
Financial Times  May 12  Comment 
Pre-tax profit falls to $1.01bn from $1.05bn in year to March
Wall Street Journal  May 10  Comment 
A nearly 30% drop in the value of the Brazilian real isn’t being reflected in the prices of 2016 Olympics tickets sold abroad, as the ticketing exchange rate was cemented in September.
The Economist  Apr 23  Comment 
KNOWING the worst can help with a recovery. But it is no guarantee. Petrobras issued its much-delayed results on April 22nd, after accountants had scoured its books to find details of many years of scams and kickbacks, which are part of Brazil’s...
New York Times  Apr 23  Comment 
The company released its long-delayed fourth-quarter financial results that included a write down of 6.2 billion reais — about $2.1 billion.
Reuters  Apr 22  Comment 
Brazil's state-run oil company Petroleo Brasileiro SA said on Wednesday that it lost 26.6 billion reais ($8.8 billion) in the fourth quarter after taking a write-down of 50.8 billion reais because of corruption and other impairments.




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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.


The chart at left shows the USD/BRL currency pair; the number of Brazilian Real equivalent to 1 U.S. Dollar (USD).

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