Money

1. Currency Exchange

The official currency of Brazil is the Brazilian Real represented as BRL or R$. One real is made up of 100 centavos.

The most favorable exchange rates when changing cash or travelers' checks are offered by a ‘Casa de Cambio'. Travel agencies make available currency exchange desks. It is practical to turn to major banks but most only exchange currencies at their head offices and not at the branches. Banco do Brasil or Citibank are good options for currency exchange. Foreign exchange units frequently shut shop at 1 pm but a few remain open till 2 pm or 3 pm. Some branches only change a minimum denomination of US $100. Some exchange facilities charge a fee of $20 irrespective of the amount that has to be changed. This urges the need to look around and find a friendly exchange facility. The USD is believed to be a handy currency to change. It is advisable to exchange enough cash before stepping into smaller cities.

Luxury hotels offer exchange facilities at low rates. Unfortunately, during weekends or post bank work hours, they are one of the only currency exchange facilities that are accessible. Do not exchange money with unregistered persons as they too hand out less cash. Euros are a popular currency as well. Locals pay about R$ 2.80 in exchange of 1 USD but to buy back the same dollar from the local market, tourists have to shell out R$ 3.10. The variation in payments structure is called ‘spread' and several locals earn their livelihood in this manner.

2. What a Dollar Will Buy You

For a US $ 1.50 tourists can buy tickets to a football match or a pair of flip-flops.

A small sized bottle of safe and sealed drinking water, a liter of petrol, a metro ticket, freshly squeezed suco (juice), churrasco (roast meat) on the beach and a glass of chope (draft beer) are all available for a dollar.

3. Telecommunications

When in Rio de Janeiro, visitors may feel the need for a reliable telecommunication service. This is because telephone lines do not have a favorable reputation and are believed to be inefficient at times. The situation has not altered much even after private vendors have been recognized as licensed providers. Frequency variations and cross connections are regular occurrences, which calls for people to make repeated attempts till the line finally goes through. As a result, Brazilian public phones are often referred to as ‘orelhôes', which implies ‘floppy ears'. Phone cards known as ‘cartão telephonic' and are obtainable at newsstands and street vendors. Calls in Brazil, are timed in units. A brief local call could end before the unit meter responds. When the card is inserted, the phone displays the number of units that are still to be used. It is possible that all phones do not accept the cards and tourists may be required to try a few phones prior to locating a compatible and functional phone.

Cellular phones have eight-digit numbers that mostly start with number nine. It is possible to rent a phone at communications stores around the city.

4. Cab Fares

Taxis in Rio de Janeiro have meters that are required by law. They have a metal seal, which can't be tampered with. The taxis that belong to a Cooperative have names that start with coop, are fair priced, and use their meter. From 6 am to 9 pm the taximeter reads ‘Bandeira 1' and charges are R$ 0,80 per kilometer. This is the regular rate from Monday to Saturday. From 9 pm and 6 am, the meter reads ‘Bandeira 2' and tariffs are set at R$ 0.96 per kilometer. On Sundays, holidays and during December the meter is set at ‘Bandeira 2'. When tourists board a taxi, the tariff always reads R$ 2,50 irrespective of time. If a taximeter is higher sometime at night, it is advisable to get off and find one that is set at the right tariff. If you hire a taxi to wait on you, for each hour, the charges are R$ 10.50. For luggage that has to be fit in at the rear, charges are R$ 0.80 for a bag that measures 60x30 centimeters. Apart from cab fares, tourists may choose to tip cabbies up to 10% of the taxi fare.

5. Currency Exchange Rates

1 US Dollar = 2.23 Brazilian Real

1 Brazilian Real (BRL) = 0.44 US Dollar (USD)

6.Taxes

In case of international flights, travelers are required to pay a departure tax of $36.00. More often than not, this charge is included in ticket costs. The city of Rio de Janeiro charges a 5% accommodation tax that is to be paid to hotel operators and owners. This tax is added to hotel bills and has to be cleared when checking out. Visitors are not required to pay additional or special taxes on retail items and goods.

7.Tipping

A majority of service staff is likely to receive in tips 10% of their daily business volume or work attended to. This is a way of life as service workers are paid minimum wages that may not be sufficient, and thus tipping helps supplement their income. At restaurants, service charges are mostly included in the bill and if not, it is compulsory to leave a 10% tip. Of course the upper limit can be as high based upon the waiters' service standards and guest discretion. At other locales, tipping is not compulsory but is openly accepted. Vendors and workers at neighboring juice stands, bars, coffee corners and street and beach hawkers are all open to receiving tips. Sadly though, parking assistants' work for zero wages and are entirely dependent upon tips. The norm is to leave a dollar or the Brazilian equivalent. Attendants at gas stations, shoe shiners and barbers are also commonly tipped. Taxi drivers are not the usual service people likely to receive tips but most often the fare is rounded and paid without expecting small change from the cabbie.