Money
Currency
Costs of travelling
Hostel beds are usually less than
US$10. Budget hotels with few frills have rooms for as little as US$15,
and you should have no difficulty finding a room costing US$25 wherever
you are. Rooms are often pretty much the same price whether 1 or 2
people are staying. Eating is generally inexpensive, especially in padarias or comida por kilo (pay
by weight) restaurants. Although bus travel is very reasonable, because of
the long distances, costs can soon mount up. Internal flights prices
have come down dramatically in the last couple of years and some routes
work out cheaper than taking a bus - especially if booking through the
internet.
ATMs
Exchange
Credit cards
Money transfers
The unit of currency is the
real
, R$ (plural
reais
). Any amount of foreign currency and 'a reasonable sum' in reais can be taken in, but sums over US$10,000 must be declared. Residents may only take out the equivalent of US$4000. Notes in circulation are: 100, 50, 10, 5 and 1 real; coins: 1 real, 50, 25, 10, 5 and 1 centavo.
Brazil is more expensive than other countries in South America. As a very rough guide, prices are about two-thirds those of Western Europe and the USA; though prices vary hugely according to the current exchange rate and strength of the
real
.
ATMs
ATMs are common in Brazil. As well as being the most convenient way of withdrawing money, they frequently offer the best available rates of exchange. They are usually closed after 2130 in large cities. There are two international ATM acceptance systems,
Plus
and
Cirrus
. Many issuers of debit and credit cards are linked to one, or both (eg Visa is Plus, MasterCard is Cirrus).
Bradesco
and
HSBC
are the 2 main banks offering this service.
Red Banco 24 Horas
kiosks advertise that they take a long list of credit cards in their ATMs, including MasterCard and Amex, but international cards cannot always be used; the same is true of
Banco do Brasil
.
Banks in major cities will change cash and traveller's cheques (TCs). If you keep the official exchange slips, you may convert back into foreign currency up to 50% of the amount you exchanged. The parallel market, found in travel agencies, exchange houses and among hotel staff, often offers marginally better rates than the banks but commissions can be very high. Many banks may only change US$300 minimum in cash, US$500 in TCs. Rates for TCs are usually far lower than for cash, they are harder to change and a very heavy commission may be charged. Dollars cash (take US$5 or US$10 bills) are not useful as alternative currency.
Credit cards are widely used, athough often they are not usable in the most unlikely places, like tour operators.
Diners Club
,
MasterCard
,
Visa
and
Amex
are useful. Cash advances on credit cards will only be paid in
reais
at the tourist rate, incurring at least a 1.5% commission. Banks in small remote places may still refuse to give a cash advance: try asking for the
gerente
(manager).
Money sent to Brazil is normally paid out in Brazilian currency, so do not have more money sent out than you need for your stay. Funds can ostensibly be received within 48 banking hours, but it can take at least a month to arrive, allowing banks to capitalize on your transfer. The documentation required to receive it varies according to the whim of the bank staff, making the whole procedure often far more trouble than it is worth.
|
This is edited copy from Footprint Handbooks. For comprehensive details (incl address, tel no, directions, opening times and prices) please refer to book or individual chapter PDF
Products in this Region No related products |
PDF Downloads No PDFs currently available |
Digital Products  Available NOW!Read more... |