8. | Cash and Cash Equivalents |
Year ended December 31, | ||||||||||||
2016 | 2017 | 2017 | ||||||||||
BRL | BRL | USD | ||||||||||
Cash and bank balances |
R$ | 6,769 | R$ | 17,801 | US$ | 5,381 | ||||||
Cash equivalents |
104,535 | 378,161 | 114,317 | |||||||||
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Total cash and cash equivalents |
R$ | 111,304 | R$ | 395,962 | US$ | 119,698 | ||||||
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Cash equivalents are investments in Bank Deposit Certificates (“CDB”) and investment funds, issued by Brazilian financial institutions, with original maturities of 90 days or less that accrue at an average interest rate of 91.94% of CDI (Interbank Deposit Certificate rate).