What money system is used in Brazil?｜By law, the is the only currency accepted in Brazil. If a traveler comes from abroad bringing foreign currency, one should exchange it for reals at an institution authorized by Banco Central do Brasil (BCB) to trade foreign exchange, or at their hired correspondents.Brazilian real (R$)

Could you please elaborate on the monetary system utilized in Brazil? As per the legal framework, what is the sole currency that is recognized and utilized within the country? Assuming a visitor arrives from overseas carrying foreign money, how would they go about converting it into Brazilian reals? Would they need to visit a specific institution that has been authorized by the Banco Central do Brasil (BCB) for foreign exchange transactions, or are there other options available to them? Lastly, what is the official denomination of the Brazilian currency, and how is it commonly represented?