Brazilian cruzeiro (1970–1986)

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Contents

Cruzeiro
1-cruzeiro-1975-anverso.png
Example of a 1 cruzeiro note, portraying the effigy of the Republic
ISO 4217
CodeBRB
Number076
Denominations
Subunit
1100 centavo
Plural cruzeiros
centavo centavos
Symbol Cr$
Banknotes1, 5, 10, 50,
100, 200, 500,
1,000, 5,000,
10,000, 50,000 and 100,000 cruzeiros
Coins1, 2, 5, 10, 20 and 50 centavos
1, 5, 10, 20, 50, 100, 200, 500 cruzeiros
Demographics
Date of introduction15 May 1970
Source [1]
Replaced Cruzeiro Novo
Date of withdrawal27 February 1986
Source [2]
Replaced by Cruzado
User(s) Brazil
This infobox shows the latest status before this currency was rendered obsolete.

The cruzeiro was the currency of Brazil between 1970 and 1986. It is the second of the 3 historical Brazilian currencies called "cruzeiro".

In 1967, Brazil introduced the "cruzeiro novo" ("new cruzeiro", a name that only appeared on the provisional issue of banknotes) as a transitional currency, with 1 cruzeiro novo equal to 1000 "old" cruzeiros. It was then renamed to simply "cruzeiro" in 1970.

In 1986, the country switched to the cruzado, at a ratio of 1 cruzado = 1000 cruzeiros.

History

Coins

Coins were introduced in 1967, while the currency was still called cruzeiro novo, in denominations of 1, 2, 5, 10, 20 and 50 centavos. After the currency was renamed to simply "cruzeiro", these coins remained in used, followed by the issue of 1 cruzeiro coins in 1970. The 1, 2 and 5 centavos were struck in stainless steel, with the higher denominations struck in cupro-nickel or nickel, replaced by stainless steel in 1974 and 1975 except for the 1 cruzeiro. Between 1979 and 1981, stainless-steel 1, 5, 10, 20 and 50 cruzeiros were introduced, followed by smaller, stainless-steel 100, 200 and 500 cruzeiros in 1985.

First series

Most of the first series of the cruzeiro were very similar in design, portraying the effigy of the Republic on the obverse.

First series of standard circulating coins of the Cruzeiro (1970–1986)
ReverseObverseValueMinting periodObverse description
0,01-cruzeiro-novo-1967-reverso.png 0,01-cruzeiro-novo-1967-anverso.png Cr$0.011975Portrays the effigy of the Republic
0,02-cruzeiro-novo-1967-reverso.png 0,02-cruzeiro-novo-1967-anverso.png Cr$0.02
0,05-cruzeiro-novo-1969-reverso.png 0,05-cruzeiro-novo-1969-anverso.png Cr$0.05
10 centavos Brazilian cruzeiro (1974) reverse.JPG 10 centavos Brazilian cruzeiro (1974) front.JPG Cr$0.101974–1979
0,20-cruzeiro-novo-1977-reverso.png 0,20-cruzeiro-novo-1977-anverso.png Cr$0.201975–1979
50 centavos Brazilian cruzeiro (1970) reverse.JPG 50 centavos Brazilian cruzeiro (1970) front.JPG Cr$0.501970–1979
1-cruzeiro-novo-1976-reverso.png 1-cruzeiro-novo-1976-anverso.png Cr$1.001974–1978

The series also had a few circulating commemorative coins.

First series of circulating commemorative coins of the Cruzeiro (1970–1986)
ReverseObverseValueMinting periodDescription
0,01-cruzeiro-novo-1975-fao-reverso.png 0,01-cruzeiro-novo-1975-fao-anverso.png Cr$0.011975–1978Celebrates the Food and Agriculture Organization
0,02-cruzeiro-novo-1975-fao-reverso.png 0,02-cruzeiro-novo-1975-fao-anverso.png Cr$0.02
0,05-cruzeiro-novo-1975-fao-reverso.png 0,05-cruzeiro-novo-1975-fao-anverso.png Cr$0.05
1-cruzeiro-novo-1972-independencia-reverso.png 1-cruzeiro-novo-1972-independencia-anverso.png Cr$1.001972Commemorates the 150th Anniversary of the Independence of Brazil (1822–1972)

Non-circulating commemorative coins were also minted.

First series of non-circulating commemorative coins of the Cruzeiro (1970–1986)
ReverseObverseValueMinting periodDescription
(missing photo)(missing photo)Cr$10.001975Commemorates the 10th anniversary of the Central Bank of Brazil (1964–1974)
(missing photo)(missing photo)Cr$20.001972Commemorates the 150th anniversary of the Independence of Brazil (1822–1972)
(missing photo)(missing photo)Cr$300.00

Second series

Due to inflation and currency devaluation, the cruzeiro gradually shifted towards higher and integer denominations. The second series reflected this, with common circulation coins of Cr$20 and Cr$50. Curiously, a Cr$0.01 (1 centavo) coin continued to be produced until 1983, even though it had little to no value at the time. In contrast, the 10 and 50 centavos coins had proof mintings, but were never released to the public; the second lowest denomination was the Cr$1 coin.

Second series of standard circulating coins of the Cruzeiro (1970–1986)
ReverseObverseValueMinting periodObverse description
0,01-cruzeiro-novo-1981-reverso.png 0,01-cruzeiro-novo-1981-anverso.png Cr$0.011979–1983Portrays soybeans
UnreleasedUnreleasedCr$0.10N/APortrays a pair of fish
UnreleasedUnreleasedCr$0.50N/APortrays an ox
1-cruzeiro-novo-1980-reverso.png 1-cruzeiro-novo-1980-anverso.png Cr$1.001979–1984Portrays sugarcanes
5-cruzeiros-novos-1983-reverso.png 5-cruzeiros-novos-1983-anverso.png Cr$5.001980–1984Portrays a coffee plant
10-cruzeiros-novos-1985-reverso.png 10-cruzeiros-novos-1985-anverso.png Cr$10.001980–1984Portrays a map of Brazil's main roads
20-cruzeiros-novos-1984-reverso.png 20-cruzeiros-novos-1984-anverso.png Cr$20.001981–1986Portrays the Church of São Francisco de Assis in Ouro Preto
50 Cruzeiros BRB de 1985.png 50 Cruzeiros BRB de 1985 (verso).png Cr$50.001981–1986Portrays the Plano Piloto, a map of Brasília

The second series also featured commemorative coins celebrating the Food and Agriculture Organization.

Second series of circulating commemorative coins of the Cruzeiro (1970–1986)
ReverseObverseValueMinting periodDescription
1-cruzeiro-novo-1985-fao-reverso.png 1-cruzeiro-novo-1985-fao-anverso.png Cr$1.001985Celebrates the Food and Agriculture Organization
5-cruzeiros-novos-1985-fao-reverso.png 5-cruzeiros-novos-1985-fao-anverso.png Cr$5.00

Third series

Similarly to the increase in value from each coin of the first series to the second series, the third series featured very high denominations of the cruzeiro.

Third series of standard circulating coins of the Cruzeiro (1970–1986)
ReverseObverseValueMinting periodObverse description
100-cruzeiros-novos-1985-reverso.png 100-cruzeiros-novos-1985-anverso.png Cr$100.001985–1986Portrays the coat of arms of Brazil
200-cruzeiros-novos-1985-reverso.png 200-cruzeiros-novos-1985-anverso.png Cr$200.00
500-cruzeiros-novos-1986-reverso.png 500-cruzeiros-novos-1986-anverso.png Cr$500.00

Banknotes

In 1967, provisional issues for the cruzeiro novo were made consisting of "old" cruzeiro notes which were overstamped with the values 1, 5, 10 and 50 centavos, and 1, 5 and 10 cruzeiros novos. These notes were withdrawn between 1972 and 1975. In 1970, regular issues of cruzeiro notes were introduced in denominations of 1, 5, 10, 50 and 100 cruzeiros. Notes of 500 cruzeiros were introduced in 1972, followed by 1000 cruzeiros in 1978. In 1981, a new series of banknotes was issued in values of 100, 200, 500, 1000 and 5000 cruzeiros. Banknotes up to 50 cruzeiros of the previous series were replaced by coins by 1984 and 10,000 and 50,000 cruzeiro banknotes were introduced, followed by 100,000 cruzeiros in 1985, by which time notes up to 500 cruzeiros had been replaced by coins.

Exchange rates

Official exchange rates
(end of period)
Cruzeiros per U.S. dollar
DateRateDateRate
19704.86198064.21
19715.631981125.42
19726.181982244.86
19736.221983940
19747.4419843008
19759.0719859855
197612.351986
(Feb)
12,985
197715.80
197820.47
197942.53

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Brazilian cruzeiro novo Brazilian currency from 1967 to 1970

The cruzeiro novo was the currency of Brazil between 1967 and 1970. It was introduced due to inflation and financial instability in the country, and had a conversion rate of 1 cruzeiro novo equal to 1000 "old" cruzeiros.

References

  1. "Resolução Nº 144" (PDF) (in Portuguese). Central Bank of Brazil. 31 March 1970. Retrieved 6 July 2021.
  2. "Decreto-Lei Nº 2.283" (in Portuguese). Casa Civil  [ pt ]. 27 February 1986. Retrieved 6 July 2021.
Brazilian cruzeiro
Preceded by:
Cruzeiro Novo
Reason: currency renaming
Ratio: at par
Currency of Brazil
15 May 1970 27 February 1986
Succeeded by:
Cruzado
Reason: inflation
Ratio: 1 cruzado = 1000 cruzeiros