Bill of R$ 200 completes one year in circulation in Brazil | Economy

The circulation of R$ 200 bills completes one year this Thursday (2). Currently, 80.2 million banknotes in this amount are in use in the country.

The note was issued during the coronavirus pandemic, to meet the need for paper money due to the payment of emergency aid, but, despite this, only 17.8% of the notes produced are currently in circulation.

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According to the Central Bank, 450 million notes were produced and circulation occurs gradually, according to society’s demand. The amount of the banknotes that is not in the hands of the population is in the government’s power.

“The rate of use of the R$200 note has been evolving in line with expectations and will continue to be issued over the next few years,” stated the BC.

In 2020, the Central Bank issued a R$ 200 bill, with an image of a maned wolf

In 2020, the Central Bank issued a R$ 200 bill, with an image of a maned wolf

Seventh banknote of the royal banknote family

The banknote, with the image of the maned wolf, was the first of a new value of the royal family in 18 years. The last note, the R$ 20, had been issued in 2002.

The purpose of the launch was to reduce transactions made with cash, saving on paper money printing.

In 2020, BC president Roberto Campos Neto stated that the launch of the new banknote was also a response by the Central Bank to changes caused by the Covid-19 pandemic. According to the agency, companies and individuals made withdrawals because of the crisis and beneficiaries of Emergency Aid did not return the money to the banking system at the expected speed.

The animal chosen for the new grade, the maned wolf, was ranked third in a survey carried out by the Central Bank in 2000. The institution asked the population which species of fauna they would like to see represented in Brazilian money.

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First place was the sea turtle, used in the R$2 note. Second, the golden lion tamarin, was incorporated into the R$20 note.