The official currency of Brazil is the Brazilian real, abbreviated as BRL. The real was introduced in 1994 as part of a broader economic stabilization plan aimed at controlling hyperinflation. One real is divided into 100 centavos. The currency has undergone several changes since its inception, but it has remained relatively stable in recent years. The Brazilian real is used in all transactions throughout the country, and its value is influenced by various factors, including economic performance, commodity prices, and monetary policy.