Tips for the tourist

Currency

The currency used in Brazil is called the Real (R$) and the foreign exchange rate is published daily in the newspapers and other specialized sites. Foreign currency may be exchanged at banks, travel agencies and authorized hotels. Travellers’ cheques as well as currencies are easily exchanged at these locations. International credit cards are accepted at most hotels, restaurants, stores, travel agencies, car rental companies and other companies that render services to tourists. A floating exchange rate is used.

The Brazilian currency has remained reasonably stable. From November 2003 to April 2004, the American dollar maintained an average exchange rate of R$ 2,90, according to information provided by the Brazilian Central Bank.

RESOLUTION 2524

Establishes the rules for carrying and transporting cash in domestic and foreign currency

THE CENTRAL BANK OF BRAZIL, in accordance with Article 9, Law No. 4,595 of 12.31.64 announces that the NATIONAL MONETARY COUNCIL, in a meeting held on 7.30.98 and pursuant to the provisions of Article 65, paragraph 2, Law No. 9,069 of 30.06.95

HEREBY RESOLVES AS FOLLOWS:

Art. 1 – Individuals traveling to and from the country carrying cash (currency notes and coins; checks of any kind, including travelers' checks) in excess of R$10,000.00 (ten thousand reals) or the equivalent in other currencies, pursuant to section III, paragraph 1, Article 65 of Law No. 9,069/95 must declare it to the unit of the Internal Revenue Service at the point of entry into or departure from the country, as established by the Minister of Finance.

Sole Paragraph. Individuals leaving the country and carrying foreign cash  in an amount in excess of that provided for in this Resolution may be asked to present, within a period to be stipulated by the Internal Revenue Service:

1. Proof of purchase of the foreign currency in an authorized bank or institution duly accredited to operate on the foreign exchange market in the country, in an amount equal to or in excess of the declared amount; or 

2. The declaration presented to the unit of the Internal Revenue Service upon entry into the national territory, in an amount equal to or in excess of that they are carrying; or
 
3. The document evidencing receipt of the cash (currency notes and coins; checks of any kind, including travelers' checks) either by money order in foreign currency on their behalf or international credit card in the case of foreigners or Brazilians living abroad when in transit in the country.

Art. 2 – Companies authorized to transport cash internationally, when entering or leaving the country carrying amounts in excess R$10,000.00 (ten thousand reals) or the equivalent in other currencies, pursuant to section III, paragraph 1, Article 65 of Law No. 9.069/95, must observe the following:
 
a) The carrier responsible for transporting cash must present a declaration to the unit of the Internal Revenue Service at the point or entry into or departure from the  country in the form and model  approved by the Minister of Finance;

b) The recipient of cash (currency notes and coins; checks of any kind, including travelers' checks) entering the country shall be a bank authorized / accredited to operate on the foreign exchange market in the country;

c) The sender of cash (currency notes and coins; checks of any kind, including travelers' checks) exiting the country shall be a bank authorized / accredited to operate on the foreign exchange market in the country.

Sole Paragraph. The provisions of this article do not apply to the transport of cash in the amount of up to R$3,000.00 (three thousand reals) or the equivalent in other currencies, by sender or recipient.

Art. 3 – The declarations referred to in the preceding articles shall be filled in three copies, of which one shall be kept by the declarant and two by the Internal Revenue Service.

Art. 4 – Verification of the existence of cash (currency notes and coins; checks of any kind, including travelers' checks) that fails to meet the conditions and limits set forth in this Resolution will cause said cash to be withheld by the  customs authority  and subsequently forwarded to the Central Bank of Brazil for the adoption of appropriate measures.

Art. 5- Where the possession of cash (currency notes and coins; checks of any kind, including travelers' checks) in foreign currency in excess of R$10,000.00 (ten thousand reals) is detected in the national territory, the competent authority must withhold and forward said cash to the Central Bank of Brazil for the adoption of appropriate measures when:
 
a) Its purchase  at an authorized bank or institution accredited to operate on the foreign exchange market in the country fails to be demonstrated as provided for in the law; or 

b) It has not been declared to the Internal Revenue Service as provided for in this Resolution; or

c) Receipt in the country in the form of cash or "traveler's checks" either by money order in foreign currency on their behalf or by international credit card as provided for in the law fails to be demonstrated.

Art. 6 – International passenger carriers, the Brazilian Tourism Institute (Embratur), Brazilian travel agencies and diplomatic missions of Brazil abroad should inform travelers of the provisions of this Resolution.
 
Art. 7 – The Central Bank of Brazil and the Internal Revenue Service of the Ministry of Finance are hereby authorized to issue the regulations necessary to implement the provisions contained herein.

Art. 8 – The Central Bank of Brazil is hereby authorized to enter into an agreement with the official banking institution, so that all cash seized  under this Resolution may be guarded in its branches.

Art. 9 – This Resolution shall be effective on the date of publication thereof.

Art. 10 – Articles 4 and 5 of Resolution 1,946 of 7.29.92 are hereby revoked.

Brasília, 30 July 1998
Gustavo H. B. Franco
Governor of the Central Bank of Brazil