The currency used in Brazil is the Brazilian real, abbreviated as BRL. The real is subdivided into 100 centavos and has been in use since 1994, replacing the previous currency, the cruzeiro. The real was introduced in conjunction with economic plans aimed at stabilizing the Brazilian economy and curbing hyperinflation. Banknotes and coins feature images of prominent figures and symbols from Brazilian culture and history. The real remains essential for transactions in the country's bustling economy and daily life.