Casinos supporting Brazilian Real Currency

The Brazilian real is fairly new as far as currencies go. In fact, the modern real only traces its history back to 1994. At the time, the main currency of Brazil was the cruzeiro real, but serious problems with the local economy lead to rapid, out of control inflation that forced the Plano Real reforms and introduced a new type of currency.

When the modern real was first introduced, due to a quirk in international monetary policy, it was trading at 1 for 1 with the US dollar. For a couple of years this stayed stable and the real, at its peak, was actually worth US$1.20. But then it started to plummet at the beginning of the 21st century and currently hovers someplace around US$.50 to one real. There was a time when it was so low that people were afraid the government was going to default on its loans again.

The current series of coins are distinct in that all of them have the Southern Cross on one side and something different on the reverse. Banknotes, which are used for currency denominations of 1 to 100 reais (plural of "real), all feature an animal native to Brazil.