TIMELINE

Central Bank & Selic timeline

Brazilian monetary policy, interest rates, inflation expectations and currency-market implications.

Jul 1, 1994

Brazil Archives

Brazil’s Real Plan Brings a New Currency and a Break From Hyperinflation

Brazil introduced the real on July 1, 1994, after months of transition through the URV unit of account. The Real Plan rapidly reduced inflation from extraordinary levels and helped establish the institutional foundations for long-term price stability.

May 6, 1997

Brazil Archives

Brazil privatized CVRD in landmark 1997 mining auction

On May 6, 1997, Brazil transferred control of Companhia Vale do Rio Doce, then known as CVRD, to private shareholders in an auction that raised R$3.34 billion for 41.73% of its voting capital.