Praça XV was the first area to develop when the Minas Gerais gold rush in the 18th century transformed Rio de Janeiro from a scruffy port town into a wealthy city. The square became a trading center for imported goods, and trade still takes places here in the ramshackle market next to Rua 1 de Março. The historic heart of Rio, Praça XV witnessed the arrival of Portuguese Prince Regent Joao when he escaped Napoleon in 1808. It also served as the center of Brazil’s political power under the Portuguese. Today, Praça XV is dotted with historical buildings and streets. The restoration of the Paço Imperial in the 1980s has acted as a catalyst in bringing culture back to the city center.
