The so-called “commercial dollar” reported in the media is just a reference index.
This rate is not directly accessible to individuals.
When trying to buy dollars at banks or exchange offices, there are always spreads, administrative fees, and IOF (a Brazilian tax) applied, which makes the final amount considerably more expensive than the reported number.
At banks and exchange offices, you see the commercial dollar, but you only find out the real price at the time of conversion: much higher than the published rate due to internal fees.
The Picnic Card uses the so-called on-chain dollar.
At Picnic, there are no “surprises”:
- No conversion fee.
- No additional bank spread.
- No intermediaries.
In the long run, loading dollars directly onto the Picnic Card usually costs less than exchanging currency at traditional banks or exchange offices.