Tickets for Rio 2016 Olympics now on sale

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With top prices comparable to those at the London Games in 2012, ... tickets for the 2016 Rio Olympics went on sale in Brazil today.

The most affordable of the 7.5 million tickets will be sold for 40 reais or Us $12 and all purchases can be paid for in up to five instalments.

The most expensive tickets in Rio - for the athletics, basketball, beach volleyball and volleyball finals -- are priced at 1,200 reais or US $75 far above Brazil's minimum monthly wage of 788 reals.

Tickets for the popular opening ceremony will cost up to 4,600 reais or Us $1440 . The announcement came as many Brazilians struggle to keep their heads above water amid a deepening economic crisis.

The Olympics competition schedule was also released today with eight finals on the last day, Sunday august 21 and the men's football tournament is the first sport to kick off on August 3, two days before the opening ceremony.

Tickets for the seven football matches scheduled for Sao Paulo have been held back due to an impasse over who will foot the bill for the renovations at the Corinthians arena.