Central Bank Launches App for Tourists to Find Legal Foreign Exchange

06/04/2013 - 08h47

On Monday (June 3), the Central Bank launched an application to inform tourists about the legal locations to exchange currency and a special site to inform them how to know whether the note being sold is real or fake.

According to the executive secretary, Geraldo Magela, although the campaign has been launched to help foreigners who come to the Confederations Cup and the World Youth Day, these tools can be used by the people even after the events.

"The person will feel secure performing the transaction, and convenience because he will be able to identify the nearest institution, access the its website and know what the prices are and how the institution works," he said.

The application, called "Câmbio Legal" (Legal Rates), can be downloaded on iOS or Android devices, but does not report the value of the currency in each of these institutions.

According to the Central Bank, this information changes rapidly and the system would not even be able to upgrade at the speed it should.

Whoever downloads the app will see a map showing their location at the time. From there, the program will also show the closest locations for foreign exchange and the route which can be taken to get there.

There is also a website that gives tips on the characteristics of the Brazilian currency, the real.

The Central Bank intends to launch a new application by Aug. 15, just to inform tourists which financial institutions performed foreign exchange best in previous months.

Translated by DAVE WOLIN

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