Clipping of news on Brazilian Culture, Law and Citizenship
05/02/2016
This article was translated by an automatic translation system, and was therefore not reviewed by people.
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quantity in the market is 100 units per capita
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Diego Viñas | Complain HERE
The Brazilian population keeps in his pockets, piggy banks and drawers 7.4 billion coins, said on Friday the 29th, the Brazilian Federation of Banks (Febraban). The total accumulated coins represents 32% of the issued until December 2015, according to Central Bank data. That is, the entire volume of banknotes and coins issued by the Mint, one third is held by the population.
Currently, the stock of currency in the market is 100 units per inhabitant - equivalent to the international average. However, according to Febraban, using coins is not habit of Brazilians, unlike what happens in other countries where it is common for the largest payment and receipt of coins.
The director of Febraban operations, Walter Faria explains that this habit of saving and not just using coins causing restrictions in circulation in the economy. "This custom is a remnant of the high inflation period, when money was losing value very quickly and therefore the coins were overlooked," he says.
They are used to pay small bills
After stabilization of the real, however, the coins forgotten purse or drawer may be sufficient even to pay small bills. "It's important for people to raise awareness about the value of the coins have and the importance also of small denominations notes. They need to circulate in the market, because they facilitate the change in trade and reduce government spending with new issues of money, "he says.
For those who have the habit of saving in spending day to day, to keep the coins in the piggy bank is quite common practice. But according to Febraban, no need to give up the daily savings to help in currency circulation.
See advantages of placing coins in circulation, according to the director of financial education Febraban, Fabio Moraes:
- Open the piggy bank frequently to exchange saved coins for banknotes of larger denominations.
- Make an application with the saved amount. In addition to helping the financial system to put coins in circulation, you also make your money go, to put it in a financial investment rather than keep it stopped at home, losing value.
- Increased circulation of coins directly impacts the daily lives of all people, regardless of their location, age or social class and benefits traders, retailers, service providers and consumers themselves.
- The circulation of coins in daily transactions is required to validate the economic exchanges and maintain an efficient financial system.
Source: G1
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This article was translated by an automatic translation system, and was therefore not reviewed by people.