December 2, 2022
Discover the 730 million Brazilian real banknote in circulation

Discover the 730 million Brazilian real banknote in circulation

Nicknamed the Titan, there is a banknote issued by the Bank of England, worth 100 million pounds, currently about 730 million Brazilian reals.

Nicknamed the Titan, there is a banknote issued by the Bank of England, worth 100 million pounds, currently about 730 million Brazilian reals. The size of the note is proportional to the alias, as it has the same measurements as an A4 sheet. However, they are kept in the vaults of the Foundation, in London, where there are also banknotes worth one million pounds, called giants.

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In short, the function of these banknotes is not to serve as currency, but to help organize EconomieAlthough Scotland and Northern Ireland are part of the United Kingdom, they issue their own coins.

Thus, in order to maintain the same rate of sterling, the securities in Scotland and Northern Ireland must, compulsorily, have an equivalent value in sterling deposited with the Bank of England. Therefore, there is a security weight in the event of a crisis in the other Banks emitters.

Therefore, it would be pointless to keep millions of bank notes in the Bank of England to secure this support, since the maximum currency in circulation in the UK is only 50 pounds (370.00 Brazilian reais).

Thus, the Titans and Giants were created, which have existed since 1908 and serve as a backing for the British pound. There are currently more than 4,000 of these banknotes with a total value of nearly £8 billion (BRL 58 billion). However, the only way to see it is to visit the Bank of England Museum, where there is a giant ornate note on display, signed by Queen Elizabeth II in 2012.

The largest banknote in circulation

In Europe, the largest euro banknote in circulation corresponds to more than three minimum wages in Brazil (the 500 euro banknote has a value of 3290.00 Brazilian real). However, they are rarely used on a daily basis and it is likely that most Europeans have not seen one before, especially with the increasing use of electronic payment methods.

Photo: MicroStockFactory / shutterstock