Historic Brazilian Real Chinese Yuan Renminbi

Brazilian Real chinese yuan renminbi history for March 2024. The highest quote for this month is 1.4558 (07/03/2024) and the lowest 1.4667 (08/03/2024). The difference between high and low is -0.75.

BRL CNY average rate for March 2024 is 1.44987, the change between 01/03/2024 and 31/03/2024 is +0.37 %.

01 March 20241 BRL = 1.446 CNY
03 March 20241 BRL = 1.452 CNY
04 March 20241 BRL = 1.453 CNY
05 March 20241 BRL = 1.456 CNY
06 March 20241 BRL = 1.452 CNY
07 March 20241 BRL = 1.456 CNY
08 March 20241 BRL = 1.458 CNY
10 March 20241 BRL = 1.442 CNY
11 March 20241 BRL = 1.444 CNY
12 March 20241 BRL = 1.441 CNY

15/08/2018: Elections and Political Uncertainty

The Real experienced significant volatility leading up to the Presidential elections, responding to political developments and market sentiment.

29/11/2015: Inclusion of the Renminbi in IMF's SDR Basket

The International Monetary Fund (IMF) includes the Renminbi in its Special Drawing Rights (SDR) basket, recognizing its global importance as a reserve currency and boosting the international status of the Chinese Yuan Renminbi.

22/01/2015: Real Hits 10-Year Low

The Real reached its lowest level against the US dollar in a decade, primarily due to a decline in commodity prices and economic concerns.

18/06/2009: Resumption of Renminbi Appreciation

China allows the Renminbi to resume an appreciation trajectory against the US dollar after a period of stability, signaling a shift in the country's exchange rate policy.

15/09/2008: Global Financial Crisis Impact

As a consequence of the global financial crisis, the Brazilian Real faced a sharp depreciation against major currencies due to capital outflows and risk aversion.

27/07/2005: New Currency Symbol

The Central Bank of Brazil announced a public competition to select a new currency symbol, which resulted in the adoption of the official symbol for the Real.

20/07/2005: Introduction of Managed Float

China adopts a managed floating exchange rate system, allowing the Renminbi to fluctuate within a narrow band against a basket of currencies, reducing its dependence on the US dollar.

18/06/2002: Exchange Rate Floatation

The Brazilian government allowed the Real to float freely against other currencies, abandoning the controlled exchange rate regime.

15/01/1999: Devaluation of the Real

Due to the Russian financial crisis and the Asian financial crisis, the government devalued the Real by around 8% to boost exports and stimulate the economy.

01/07/1994: Introduction of the Real Plan

The Brazilian real was established as the official currency, replacing the hyperinflation-ridden Cruzeiro Real. It aimed to stabilize the economy and combat inflation.

31/12/1993: Renminbi Pegged to US Dollar

China pegs the value of the Renminbi to the US dollar, setting an exchange rate of 8.28 Yuan per dollar, which remains fixed for over a decade, impacting China's export competitiveness.

31/12/1992: Introduction of Dual Currency System

China introduces a dual currency system, with the offshore Renminbi (CNH) and the onshore Renminbi (CNY), aiming to facilitate foreign exchange flows and international trade.

14/08/1971: End of the Bretton Woods System

The United States suspends the convertibility of the US dollar to gold, leading to the collapse of the Bretton Woods System and a shift towards floating exchange rates, affecting the value of the Chinese Yuan Renminbi.

14/12/1948: Formation of the People's Bank of China

The People's Bank of China was established, marking the beginning of central banking in China and the introduction of the Chinese Yuan Renminbi as the official currency.