Brazilian cruzeiro real
Encyclopedia
The cruzeiro real 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.
, 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.
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.
Currency
In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply...
of Brazil
Brazil
Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
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
ISO 4217
ISO 4217 is a standard published by the International Standards Organization, which delineates currency designators, country codes , and references to minor units in three tables:* Table A.1 – Current currency & funds code list...
code BRR.
History
The cruzeiro real replaced the third cruzeiroBrazilian cruzeiro
The cruzeiro was the currency of Brazil from 1942 to 1986 and again between 1990 and 1993. The name refers to the constellation of the Southern Cross, known in Brazil as Cruzeiro do Sul, or simply Cruzeiro ....
, with 1000 cruzeiros = 1 cruzeiro real. The cruzeiro real was replaced in circulation by the real
Brazilian real
The real is the present-day currency of Brazil. Its sign is R$ and its ISO code is BRL. It is subdivided into 100 centavos ....
at a rate of 1 real for 2750 cruzeiros reais. Before this occurred, the unidade real de valor
Unidade Real de Valor
The Unidade Real de Valor, or URV , was a non-monetary reference currency created in March 1994, as part of the Plano Real in Brazil...
(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
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.