What is the official currency of Brazil, introduced in 1994 as part of a successful economic stabilization plan?
Answer and explanation
Correct answer: D. Brazilian Real (BRL)
- Step 1: The Brazilian Real was introduced on July 1, 1994, under the Plano Real led by Finance Minister Fernando Henrique Cardoso to end chronic hyperinflation.
- Step 2: It replaced the transient Cruzeiro Real and is symbolized by the Real symbol (R-Reais).
Answer
Brazilian Real (BRL)
Why not the others: 'Argentine Peso' is the official currency of neighboring Argentina; 'Brazilian Cruzeiro' was Brazil's historic currency that underwent multiple devaluations before 1994; 'Peruvian Sol' is the official currency of Peru.
Practise more Countries and Currencies.
Free questions with an explanation for every one, and full timed General Knowledge mock tests.
More Countries and Currencies questions
- What is the official currency of Japan?
- What is the official currency unit of the United Kingdom?
- Which currency is used by Switzerland and the neighboring principality of Liechtenstein?
- What is the official currency of South Korea?
- What is the official name of the legal currency of the People's Republic of China?
- What is the legal tender currency of the Russian Federation?