Central Banking

Brazil c bank to produce notes of BRR2, BRR20

BRAZIL - The central bank will launch notes in denominations of two reals and 20 reals ($1=BRR2.761) in December and next year to help save costs, O Estado de S. Paulo reported.

The introduction of the BRR2 note is to help ease the wear and tear on the BRR1 note. The BRR2 note will have a life expectancy of 18 months against 12 months of the BRR1 note.

The central bank calculates that for every 20 million new notes put on the market, some BRR770,000 is saved in maintenance costs. Around 50 mill

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