Misplaced Pages

This article has multiple issues. Please help improve it or discuss these issues on the talk page. (Learn how and when to remove these messages) This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. Find sources: "Brazilian cruzeiro" 1990–1993 – news · newspapers · books · scholar · JSTOR (July 2021) (Learn how and when to remove this message) You can help expand this article with text translated from the corresponding article in Portuguese. (July 2021) Click for important translation instructions. View a machine-translated version of the Portuguese article. Machine translation, like DeepL or Google Translate, is a useful starting point for translations, but translators must revise errors as necessary and confirm that the translation is accurate, rather than simply copy-pasting machine-translated text into the English Misplaced Pages. Consider adding a topic to this template: there are already 516 articles in the main category, and specifying|topic= will aid in categorization. Do not translate text that appears unreliable or low-quality. If possible, verify the text with references provided in the foreign-language article. You must provide copyright attribution in the edit summary accompanying your translation by providing an interlanguage link to the source of your translation. A model attribution edit summary is Content in this edit is translated from the existing Portuguese Misplaced Pages article at ]; see its history for attribution. You may also add the template {{Translated|pt|Cruzeiro (1942–1967)}} to the talk page. For more guidance, see Misplaced Pages:Translation. (Learn how and when to remove this message)

Cruzeiro

A 500 thousand cruzeiros note portraying Mário de Andrade
ISO 4217
Code	BRE
Unit
Plural	cruzeiros
Symbol	Cr$‎
Denominations
Subunit
1⁄100	centavo
Plural
centavo	centavos
Banknotes	50, 100, 200, 500, 1,000, 5,000, 10,000, 50,000 100,000 and 500,000 cruzeiros
Coins	1, 5, 10, 50, 100, 500, 1,000 and 5,000 cruzeiros
Demographics
Date of introduction	16 March 1990
Replaced	Cruzado novo
Date of withdrawal	31 July 1993
Replaced by	Cruzeiro real
User(s)	Brazil
This infobox shows the latest status before this currency was rendered obsolete.

The cruzeiro was the currency of Brazil between 1990 and 1993. It was the third iteration of a Brazilian currency named "cruzeiro", and replaced the cruzado novo at par. It was used until 1993, when it was replaced by the cruzeiro real at a rate of 1 cruzeiro real = 1000 cruzeiros.

History

In late 1989 and early 1990, inflation reached increasingly rampant levels, with monetary deterioration throwing most of the available resources into financial speculation. In an attempt to reduce this, President-elect Fernando Collor contacted President José Sarney, then at the end of his term and by mutual agreement, a bank holiday was announced from March 12 to 15. When President Collor took office, 80% of the amount deposited in the accounts, except for accounts that had a maximum value of 50,000 cruzados novos, had their value confiscated and frozen in the accounts for a period of 18 months, except in exceptional cases. The currency in circulation was renamed to Cruzeiro and due to the economic shock, the economy went into recession at the time. At the time, the old Cruzeiro banknotes (up to 10 centavos of Cruzado Novo) were withdrawn and Cruzado banknotes still in circulation began to be withdrawn and this process continued until the end of 1990. Despite the fact that inflation had reduced in relation to the levels it had in the early 1990s, the Collor Plan was not successful in reducing inflation to reasonable levels, and despite the shocks of the Plano Collor I in 1990 and the subsequent Plano Collor II in 1991, inflation remained high, and political instability made economic stabilization difficult, which was only possible with the advent of the Plano Real in 1994.

Coins

The 1, 5, 10 and 50 centavo coins issued in 1989 for use with the previous currency continued in use after the introduction of the cruzeiro. In 1990, stainless-steel 1, 5, 10 and 50 cruzeiro coins were introduced, completing the coin family started in 1989. With the exception of the value of 1 cruzeiro, issued only in 1990, the other coins of this family were issued until 1992.

Standard circulating coins of the Cruzeiro (first family)

Reverse	Obverse	Value	Minting period	Obverse description
		Cr$1	1990	Portrays a section of the rhombus from the flag of Brazil
		Cr$5	1990–1992	Portrays a salt evaporation pond worker
		Cr$10		Portrays a rubber tapper and a factory plant
		Cr$50		Portrays a woman selling goods in a street market

In 1992, on the occasion of the Eco 92 in Rio de Janeiro, a new family of coins began to be issued. The coins of 100 and 500 cruzeiros coins were the first to be released, which would be accompanied by the 1000 cruzeiros coin, launched at the end of the same year. These coins were issued until 1993, when the cruzeiro real was launched.

Standard circulating coins of the Cruzeiro (second family)

Reverse	Obverse	Value	Minting period	Obverse description
		Cr$100	1992–1993	Portrays a manatee, and its Portuguese name in the lettering "Peixe-boi"
		Cr$500		Portrays a sea turtle, and its Portuguese name in the lettering "Tartaruga Marinha"
		Cr$1000		Portrays angelfish, and their Portuguese name in the lettering "Acará"

The cruzeiro only had one circulating commemorative coin, celebrating the 200th anniversary of Tiradentes's death (1792–1992).

Circulating commemorative coins of the Cruzeiro (1990–1993)
Reverse	Obverse	Value	Minting period	Description
		Cr$5000	1992	Portrays the bust of Tiradentes, and the lettering "Liberdade" (Liberty), "Cidadania" (Citizenship) and "Tiradentes"

Additionally, the cruzeiro also had two distinct non-circulating silver commemorative coins.

Non-circulating commemorative coins of the Cruzeiro (1990–1993)
Reverse	Obverse	Value	Minting period	Description
		Cr$500	1991	Commemorates the 500th anniversary (1492–1992) of the discovery of the Americas by the Europeans
(missing photo)	(missing photo)	Cr$2000	1992	Commemorates the UN Conference on Environment and Development, held in Rio de Janeiro in 1992

Banknotes

The first banknotes were overprints on cruzado novo notes, in denominations of 50, 100, 200 and 500 cruzeiros and emergency banknote of 5000 cruzeiros.

• A NCz$200 note overstamped as Cr$200

In 1990, regular notes in values of 100, 200, 500, 1000 and 5000 cruzeiros were introduced, followed by 10,000 and 50,000 cruzeiros in 1991, 100,000 cruzeiros in 1992 and 500,000 cruzeiros in 1993. In 1992, the 50 and 100 cruzeiro banknotes were withdrawn and the higher denominations were withdrawn in 1994, although banknotes of up to 1000 cruzeiros have been seen very rarely since late 1993.

References

1. "Medida Provisória Nº 168" (in Brazilian Portuguese). Câmara dos Deputados. 15 March 1990. Retrieved 5 July 2021.
2. "Medida Provisória Nº 336" (in Brazilian Portuguese). Casa Civil [pt]. 28 July 1993. Retrieved 5 July 2021.

Bibliography

• "O que foi o Plano Collor" [What the Collor Plan was]. Folha de S.Paulo (in Brazilian Portuguese). São Paulo. 16 March 2005. Retrieved 5 July 2021.

v t e Historical currencies of Brazil
Real Rs$ 1747–1942 Cruzeiro Cr$ 1942–1967 Cruzeiro novo NCr$ 1967–1970 Cruzeiro Cr$ 1970–1986 Cruzado Cz$ 1986–1989 Cruzado novo NCz$ 1989–1990 Cruzeiro Cr$ 1990–1993 Cruzeiro real CR$ 1993–1994 Real R$ 1994–present

• Currencies with ISO 4217 code
• Historical currencies of Brazil
• 20th century in Brazil
• 1990s in Brazil
• Currencies introduced in 1990