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There
are many banks in Brazil, especially in São Paulo.
Among the national banks the bigger are preferable,
banks like Banco
Itaú, Banco
Bradesco, Banco
do Brasil and Banco
Real. Also some multinational banks are represented
like Citibank
and HSBC.
To withdraw money in a cash dispenser (ATM) you must
be a client in that bank. With credit cards issued
in other countries than Brazil, it is possible to
withdraw money only in some selected banks, see exchangeand
withdrawal money.
Since
1986 the name of the currency has changed five times,
from 'cruzeiro' to 'cruzado' to 'cruzado novo' and
back to 'cruzeiro'. Then it became the 'cruzeiro real'
and, in July 1994, the 'Real'. At the moment,
the monetary unit of Brazil is the Real (pronounced
HE-ow); the plural is Reais (pronounced HE-ice). It's
made up of 100 centavos. The frustratingly similar
coins are: one, five, 10, 25 and 50 centavos. There
is also a one-real coin as well as a one-real note.
The notes are different colors, so there is no mistaking
them. As well as the green one-real note there's a
blue/purple five, a red 10, a brown 50 and a blue
100. At present the central bank is introducing differentiated
coins and a new 10-real note. The new bank note is
launched because of problems with falsification of
bank notes.
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