Three nominal exchange rate series are presented, for the mil-reis and the dollar in relation to sterling, and for the mil-reis in relation to the dollar. For each of these, two series are constructed: current rates and long-term rates, representing the secular tendency of these exchange rates. The main out-oftrend fluctuations of the mil-reis and the dollar are discussed, as well as the advantage of analyzing fluctuations and trend together. The text includes tables showing rates for all six series.