The currency used in Brazil is the Brazilian real (BRL) . It has been the official currency of Brazil since 1994, replacing the Cruzeiro Real. The real is subdivided into 100 centavos, and there are coins of 1, 5, 10, 25, and 50 centavos, as well as 1 real coins and banknotes of 2, 5, 10, 20, 50, and 100 reais. The Central Bank of Brazil is the issuing authority and the only entity authorized to issue banknotes and coins in Brazil.