Business

Brazil’s Central Bank to launch new BRL 200 bill. What changes?

Launching a new paper bill may seem counterintuitive during the spread of the coronavirus, but cash use in Brazil has increased during the pandemic

new currency bill brazil central bank
Image: André Chiavassa/TBR

The Brazilian Central Bank announced this week that it would create a new BRL 200 (USD 39) bill, to be launched in late August. The decision comes amid a rise in the use of printed currency, despite the potential sanitary risks this may pose vis a vis Covid-19 contamination. In fact, the pandemic has boosted cash use, as Brazilians are seeking to stockpile money as emergency savings in response to economic uncertainties.

The bank plans to request an initial budget of BRL 113.4 million from the National Monetary Council (CMN) to print the first 450 million units of the new...

Access all of The Brazilian Report
Start your 7-day free trial.
Free trial