Brazilian cruzeiro
Encyclopedia : B : BR : BRA : Brazilian cruzeiro
- This article is about the currency. For the football (soccer) team, see Cruzeiro Esporte Clube.
First Cruzeiro, 1942-1967
The first cruzeiro was issued from 1942 to 1967. It replaced the real at a rate of 1000 réis = 1 cruzeiro.
Second Cruzeiro (Cruzeiro Novo), 1967-1986
In 1967, Brazil issued the cruzeiro novo ("new cruzeiro"), with one cruzeiro novo equal to one thousand "old" cruzeiros. Old banknotes were revalued with a simple handstamp, e.g. a "10 centavos" stamp on a 100-cruzeiro note. When purpose-made banknotes and coins denominated in cruzeiros were issued in 1970, the name novo was dropped.
In 1986, Brazil switched to a new currency unit, the cruzado. One cruzado was worth 1000 (novo) cruzeiros.
Third Cruzeiro, 1990-1993
In 1990, Brazil switched back to using the name cruzeiro for its currency. The cruzeiro replaced the cruzado novo at par. This cruzeiro was used until 1993, when it was replaced by the cruzeiro real. One cruzeiro real was equal to 1000 cruzeiros.
See also
External references
- [Brazilian Central Bank page on the Cruzeiro] - authoritative source
- [Article on Brazilian currency from the New Yorker]
- [History of Brazilian currency]
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