Money in Brazil

[Guest Jake]

...And there's a very convenient Citibank ATM right up around the corner from Lagoa in Sao Paulo.

[+ Axiom2001]

For the past two months--I've read all of the posts regarding Brazil, Rio and San Paulo in particular. Presently, my mind is a plethora of circles, for I know I've read about currency exchange and atm machines, but I have forgotten the particulars. ...should have written the material or book marked it if possible (although I have yet to learn how to do the latter). My question is: Should I take dollar bills with me and exchange them, or should I use my ATM card to obtain the necessary Brazilian currency? Please clarify for me.

 

When I went to Cuba--the dollar bill is all that I (tourist) could use. The Cubans would not accept the pesos that I'd converted. I know Rio is quite different in many, many respects from Cuba, but again, what do I do? Again, I apologize to the respondent who wrote about ATM machines, credit cards, and not using travelers' cheques.

[trilingual]

Take a small amount of cash, but ordinarily you can get money at ATMs. This isn't Cuba (at least with respect to Americans). The one problem is that not all ATMs are linked to the int'l network, so you have to find one that does. In places where there are multiple ATMs, there's often only one that's linked. Usually it's marked or will have the Cirrus/Plus system stickers on it. Citibank branches and ATMs are linked. There's a linked ATM in the Banco do Brasil branch immediately behind the Copacabana Palace hotel. I've had luck getting money at HSBC branches. When you arrive at the airport, all of those ATMs should be linked. The general expression for ATM in Portuguese is "caixa eletrônica." Caixa is pronounced "KY-shuh," with the KY as in "kayak."

[Guest Tomcal_]

In Copacabana, there is a citibank/atm's in the Blockbuster video store, on Copacabana Blvd and Rue Magdalaha, the Marriott Hotel recommended using these as no problems using your atm card or credit card (very convienent, 4 blocks from Estacio and 7 blocks from Rogers!!!)

I try to convert my dollars before I go, as i want mostly $50. Reyas bills, as that is what you give the boys in the saunas. Also, i always pay with credit cards at the suanas and restaurants, as you always get the going exchange rate, not what that particular establishment "says" is the the rate.

[Guest Jaunty]

Another take on Currency Exchange

 

Cash: Take US dollars,use reasonable precautions like money belt enroute, keep in your room safe. (all Rio hotels seem to have a "safe" or strong box in each room) Make cash exchanges at Imatur travel offices. (several in Copa & Ipanema) very good rate witn no service fee.

If you use your credit card for most purchases, you will really need very little cash. I only found one restaurant that didn't take a card. (a very good Italian just up the side street from Maxims) Even though Copa & Ipanema are high rent districts, everything seems very reasonably priced by our standards. (except for the fancy tourist hotels)

 

Credit Card: Will frequently have a slightly better exchange rate but lose advantage with charges of 2-4% for cash advance, currency exchange, (and anything else they can think of.)

 

If it is important to you,before you go, Call your credit card companies, (push 3 for another dozen options; "can you hold until next Tuesday?") and find out what they charge for these services. It varies quite a bit.

 

Enjoy your trip . . . . Rio is a wonderful City.

[trilingual]

The real has weakened against the dollar this week. It's was at R$2.50 to the dollar yesterday. There's a certain amount of speculation going on, I think, because Brazil's presidential elections are coming up in September or October and Lula, the (gasp!) left-wing candidate, is leading in the polls. Worse, the "official" candidates are sinking rapidly. The candidate preferred by the current president is colorless and keeps saying condescending things that piss everyone off. Roseana Sarney, who started off strong, is going down the tubes because of campaign financing scandals which also have reminded everyone of how her family essentially owns their powerty-stricken home state of Maranhão politically, lock, stock and barrel. Lula and his party, the PT, at least aren't thought to be crooks. Anyway, all this makes the banks and investors and rich Brazilians very nervous, so there's more demand for dollars and less for reais. After the elections things may calm down a bit. The real always gets stronger in their summer, too, because it's tourist season and there are lots of foreigners buying local currency for their holidays, so the rates are never as good as they usually are this time of year. So enjoy, because it's all so affordable! :9