Free Silver Price Widget For Your Website
This feature is only supported in the desktop browsers. Please visit this page in your desktop browser to retrieve the widget.
Share live silver prices with your website followers or on your blog, using our free silver price widget. To get started, please select one of the size dimensions from the drop-down menu below, and copy the code from the Widget Code text box and paste it into the desired position in your page. If you have any trouble, please contact us at email@example.com.
Silver Prices in Brazilian Real
Although silver is considered a dollar-denominated commodity, the white metal can be transacted in any currency all over the globe. If you live in Brazil, for example, you might buy or sell silver using the local currency the Brazilian Real. Gold and silver dealers located in Brazil would also likely quote prices in real, and possibly U.S. Dollars or other currencies as well.
The Brazilian Real uses the symbol R$, and the real is composed of 100 centavos, or cents. The modern day Brazilian Real was introduced in 1994, as part of a plan to initiate significant monetary reforms. The country had battled multiple decades of significant inflation, and elected to introduce the new currency with an exchange rate of 1:1 versus the U.S. Dollar.
After its introduction, the new real traded as high as $120 versus the dollar. That exchange rate changed significantly over the years, however, and at today’s exchange rates one U.S. Dollar is worth over 3 Brazilian Real.
Brazilian has one of the biggest economies in the world, and is the globe’s largest Portuguese-speaking country. If this beautiful country continues to grow, it could see increasing foreign investment and rising demand for gold and silver products.
Silver Pricing in Brazilian Real
If you are in Brazil, you would likely see silver prices quoted in the local currency and possibly some other major currencies like the U.S. Dollar. Regardless of what currency silver may be priced in, the white metal can potentially see periods of little to no movement in price and can also see periods of extreme price movement and market volatility.
The price of silver can be influenced by a number of potential factors including:
- Investment demand
- Industrial demand
- Currency markets
- Jewelry demand
Silver prices in Brazilian Real are set in the same fashion as other silver markets. Prices may be set by the LBMA Silver Price Auction and by using the most heavily traded near-term silver futures contract.
Unlike gold, which typically is more sought after for investment demand and jewelry, silver may be desired based on investment and industrial demand. Silver is used in many areas of modern industry, and its applications seem to be growing rapidly.
Brazil Mints and Products
The Casa Da Moeda do Brasil is the Brazilian Mint. This mint was established over four centuries ago and is owned by the Brazilian Government. This mint produces circulating coinage and banknotes, and is located in a western suburb of Rio de Janeiro.
In a recent project, the mint produced medals for the 2016 Summer Olympics in Rio.
Brazil has produced some silver coinage, and the 1853-1866 Brazil 1000 Reis is an example. This coin has an ASW of .3729 ounces of .9170 percent fine silver. The coin features the denomination within leafy circle on its obverse, and crowned arms within a wreath on its reverse. The coin also features a reeded edge.
Doe to this type of coin’s age, it may be sought after by both silver investors and coin collectors alike. As these coins get older and potentially become more difficult to come by, their values could potentially increase.
There are other Reis silver coins available as well, including the 1865 500 Reis and the 1814 960 Reis.
The nation of Brazil has a lot of things going for it, and its population and economy could potentially see further growth in the coming decades. As the country grows, it may attract further investment capital and its currency could potentially increase in value. A growing Brazilian economy could potentially fuel more demand for gold and silver coin and bullion, and these metals could potentially become a more popular alternative investment class for Brazilian investors.
As the country’s technology advances, silver could see additional industrial demand due to its many uses. This demand may grow even faster as more and more possible applications for silver are discovered.