Brazilian cruzeiro real

Brazilian cruzeiro real

cruzeiro real brasileiro (Portuguese)
Unit
Plural	cruzeiros reais
Denominations
Subunit
1/100	centavo
Banknotes
Freq. used	50, 100, 500, 1000, 5000 and 50,000 cruzeiros reais
Coins
Freq. used	5, 10, 50, 100 cruzeiros reais
Demographics
User(s)	Brazil
Issuance
Central bank	Central Bank of Brazil
Website	www.bc.gov.br
Printer	Casa da Moeda do Brasil
Website	www.casadamoeda.com.br
Mint	Casa da Moeda do Brasil
Website	www.casadamoeda.com.br

The cruzeiro real ($\mathrm {CRS} \!\!\!\Vert$, plural: cruzeiros reais) was the short-lived currency of Brazil between August 1, 1993 and June 30, 1994. It was subdivided in 100 centavos, however, this unit was used only for accounting purposes. The currency had the ISO 4217 code BRR.

The cruzeiro real was replaced with the current Brazilian real as part of the Plano Real.

History

The cruzeiro real replaced the third cruzeiro, with 1000 cruzeiros = 1 cruzeiro real. The cruzeiro real was replaced in circulation by the real at a rate of 1 real for 2750 cruzeiros reais. Before this occurred, the unidade real de valor (pegged to the U.S. dollar at parity) was used in pricing, to allow the population to become accustomed to a stable currency (after many years of high inflation) before the real was introduced.

Coins

Stainless-steel coins were issued in 1993 and 1994 in denominations of 5, 10, 50 and 100 cruzeiros reais.

Banknotes

File:Brasil cruzeiro real.jpg

The 50,000 cruzeiro real banknote had the shortest time in circulation: it was released in March 30, 1994, Plano Real was introduced in July 1, 1994 and it ceased to be legal tender in September 15 of that year.

In 1993, provisional banknotes were introduced in the form of cruzeiro notes overprinted in the new currency. These were in denominations of 50, 100 and 500 cruzeiros reais. Regular notes followed in denominations of 1000, 5000 and 50,000 cruzeiros reais. The 10,000 cruzeiros reais banknote was designed and scheduled to be put into circulation in the first months of 1994, but inflation and the impending release of a new economic plan put its release on hold and only the 50,000 Cruzeiro real banknote was released.

References

• Krause, Chester L.; Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed.). Krause Publications. ISBN 0873411501.
• Pick, Albert (1994). Standard Catalog of World Paper Money: General Issues. Colin R. Bruce II and Neil Shafer (editors) (7th ed.). Krause Publications. ISBN 0-87341-207-9.