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Themil-réis (literally one thousandréis) was effectively a unit of currency in bothPortugal (until 1911) andBrazil (until 1942).[citation needed]
As the value of thePortuguese real has historically been low (minted in copper since the 16th century), accounts have been kept inréis as well asmilréis of 1,000réis. The latter has been in use since the 1760s.[1] In an edict of 24 April 1835 the main unit of account shifted from thereal to themilréis.[2]
It was replaced in 1911 by theescudo in Portugal and its colonies [one escudo (1$000)= one thousand réis] and in 1942 by thecruzeiro in Brazil. By the time it was replaced by the cruzeiro in Brazil, one mil-réis (1$000) was worth a dozen loaves of bread.
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