Brazilian cruzeiro (1970–1986)
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 | This article may be expanded with text translated from the corresponding article in português. (July 2021) Click [show] for important translation instructions.
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| Cruzeiro | |
|---|---|
 Example of a 1 cruzeiro note, portraying the effigy of the Republic | |
| ISO 4217 | |
| Code | BRB |
| Number | 076 |
| Denominations | |
| Subunit | |
| 1⁄100 | centavo |
| Plural | cruzeiros |
| centavo | centavos |
| Symbol | Cr$ |
| Banknotes | 1, 5, 10, 50, 100, 200, 500, 1,000, 5,000, 10,000, 50,000 and 100,000 cruzeiros |
| Coins | 1, 2, 5, 10, 20 and 50 centavos 1, 5, 10, 20, 50, 100, 200, 500 cruzeiros |
| Demographics | |
| Date of introduction | 15 May 1970 |
| Source | [1] |
| Replaced | Cruzeiro Novo |
| Date of withdrawal | 27 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.[1]
In 1986, the country switched to the cruzado, at a rate of 1 cruzado = 1000 cruzeiros.[2]
History[edit]
Introduction[edit]
On 13 November 1965, the "cruzeiro novo" (lit. new cruzeiro) was created as a transitional currency to replace the devalued "old" cruzeiro, and was set to be used until the Conselho Monetário Nacional (lit. National Monetary Council) decided the national currency could once again be called "cruzeiro".[3]
On 31 March 1970, the Central Bank of Brazil announced new bill designs, and published a resolution determining the national currency would once again be called "cruzeiro" starting from 15 May 1970.[3] On that date also began the withdrawal of cruzeiro novo bills, which could be exchanged for the new bills and coins of the cruzeiro being implemented. The transition from the cruzeiro novo to the cruzeiro was set to end on 1 October 1970, when the "cruzeiro novo" name would officially become obsolete, and cruzeiro novo bills would no longer be legal tender.[4]
Withdrawal[edit]
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Coins[edit]
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 on 15 May 1970.[3]
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.
Coins up to 5 centavos for first series were withdrawn in 1980. Other "centavo" denominations were worthless in 1984.[citation needed]
First series[edit]
Most of the first series of the cruzeiro were very similar in design, portraying the effigy of the Republic on the obverse.
| Reverse | Obverse | Value | Minting period | Obverse description | Withdrawn |
|---|---|---|---|---|---|
 |
 |
Cr$0.01 | 1975 | Portrays the effigy of the Republic | 31 dec 1980 |
 |
 |
Cr$0.02 | |||
 |
 |
Cr$0.05 | |||
_reverse.JPG) |
_front.JPG) |
Cr$0.10 | 1974–1979 | 15 aug 1984 | |
 |
 |
Cr$0.20 | 1975–1979 | ||
_reverse.JPG) |
_front.JPG) |
Cr$0.50 | 1970–1979 | ||
 |
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Cr$1.00 | 1974–1978 | 28 feb 1986 |
The series also had a few circulating commemorative coins.
| First series of circulating commemorative coins of the Cruzeiro (1970–1986) | |||||
|---|---|---|---|---|---|
| Reverse | Obverse | Value | Minting period | Description | Withdrawn |
 |
 |
Cr$0.01 | 1975–1978 | Celebrates the Food and Agriculture Organization | 31 dec 1980 |
 |
 |
Cr$0.02 | |||
 |
 |
Cr$0.05 | |||
 |
 |
Cr$1.00 | 1972 | Commemorates the 150th Anniversary of the Independence of Brazil (1822–1972) | 28 feb 1986 |
Non-circulating commemorative coins were also minted.
| First series of non-circulating commemorative coins of the Cruzeiro (1970–1986) | ||||
|---|---|---|---|---|
| Reverse | Obverse | Value | Minting period | Description |
| (missing photo) | (missing photo) | Cr$10.00 | 1975 | Commemorates the 10th anniversary of the Central Bank of Brazil (1964–1974) |
| (missing photo) | (missing photo) | Cr$20.00 | 1972 | Commemorates the 150th anniversary of the Independence of Brazil (1822–1972) |
| (missing photo) | (missing photo) | Cr$300.00 | ||
Second series[edit]
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.
| Reverse | Obverse | Value | Minting period | Obverse description | Withdrawn |
|---|---|---|---|---|---|
 |
 |
Cr$0.01 | 1979–1983 | Portrays soybeans | 15 aug 1984 |
| Unreleased | Unreleased | Cr$0.10 | N/A | Portrays a pair of fish | N/A |
| Unreleased | Unreleased | Cr$0.50 | N/A | Portrays an ox | N/A |
 |
 |
Cr$1.00 | 1979–1984 | Portrays sugarcanes | 28 feb 1986 |
 |
 |
Cr$5.00 | 1980–1984 | Portrays a coffee plant | |
 |
 |
Cr$10.00 | 1980–1984 | Portrays a map of Brazil's main roads | 30 jun 1987 |
 |
 |
Cr$20.00 | 1981–1986 | Portrays the Church of São Francisco de Assis in Ouro Preto | |
 |
.png) |
Cr$50.00 | 1981–1986 | Portrays 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) | |||||
|---|---|---|---|---|---|
| Reverse | Obverse | Value | Minting period | Description | Withdrawn |
 |
 |
Cr$1.00 | 1985 | Celebrates the Food and Agriculture Organization | 28 feb 1986 |
 |
 |
Cr$5.00 | |||
Third series[edit]
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.
| Reverse | Obverse | Value | Minting period | Obverse description | Withdrawn |
|---|---|---|---|---|---|
 |
 |
Cr$100.00 | 1985–1986 | Portrays the coat of arms of Brazil | 30 jun 1987 |
 |
 |
Cr$200.00 | |||
 |
 |
Cr$500.00 |
Banknotes[edit]
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.[citation needed]
In 1970, regular issues of cruzeiro notes were introduced in denominations of 1, 5, 10, 50 and 100 cruzeiros.[3]
Notes of 500 cruzeiros were introduced in 1972, followed by 1000 cruzeiros in 1978.[citation needed] In 1981, a new series of banknotes was issued in values of 100, 200, 500, 1000 and 5000 cruzeiros.[citation needed] 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.[citation needed]
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The Cr$1 banknote from 1975
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Obverse of the Cr$5 note, featuring D. Pedro I
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Cr$5,000 note portraying Castelo Branco
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Obverse of the Cr$10,000 note featuring Ruy Barbosa, overstamped as Cz$10
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Obverse of the Cr$50,000 note featuring Oswaldo Cruz, overstamped as Cz$50
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Highest denomination cruzeiro note, Cr$100,000, portraying Juscelino Kubitschek
Exchange rates[edit]
| Date | Rate | Date | Rate | |
|---|---|---|---|---|
| 1970 | 4.86 | 1980 | 64.21 | |
| 1971 | 5.63 | 1981 | 125.42 | |
| 1972 | 6.18 | 1982 | 244.86 | |
| 1973 | 6.22 | 1983 | 940 | |
| 1974 | 7.44 | 1984 | 3008 | |
| 1975 | 9.07 | 1985 | 9855 | |
| 1976 | 12.35 | 1986 (Feb) |
12,985 | |
| 1977 | 15.80 | |||
| 1978 | 20.47 | |||
| 1979 | 42.53 |
References[edit]
- ↑ 1.0 1.1 "Resolução Nº 144" (PDF) (in português). Central Bank of Brazil. 31 March 1970. Retrieved 6 July 2021.
- ↑ 2.0 2.1 "Decreto-Lei Nº 2.283" (in português). Casa Civil. 27 February 1986. Retrieved 6 July 2021.
- ↑ 3.0 3.1 3.2 3.3 "Govêrno divulga as novas cédulas do cruzeiro" [Government reveals new cruzeiro bills]. Jornal do Brasil (in português). National Library of Brazil. 1 April 1970.
- ↑ "Nôvo no Cr$ vale até setembro nos cheques" ['Novo' on Cr$ valid until September on checks]. Jornal do Commercio (in português). National Library of Brazil. 15 May 1970.
| 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 |
Other articles of the topic Numismatics : Currency
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