In 1986 because of inflation banknotes of the cruzado were issued by Central Bank of Brazil in denominations of 10, 50, 100, 500, 1000, 5000 and 10 000 cruzados. This bank had the sole authority to issue cruzado notes and

Casa da Moeda do Brasil The Casa da Moeda do Brasil is the Brazilian mint, owned by the Brazilian government and administratively subordinated to the Ministry of Finances. It was established in 1694. Its current headquarters and industrial facilities occupy a modern pla ...

was the sole printer of these banknotes.Catalogo Schlichting:Cedulas Nacionais 1944 a 2016, 6 edicao 2016
/ref> Cruzado notes on the front/obverse featured prominent people while on the back/reverse depicted buildings and/or activities of those people mentioned before. Between 1989 and 1990 cruzado currency had also been replaced, this time by '' cruzado novo'' at a rate of 1 cruzado to 1000 cruzados novos.

History

The name cruzado was inspired by the name of an old Portuguese silver coin, which had value of 400/480

réis The first official currency of Brazil was the real (pronounced ; pl. ''réis''), with the symbol Rs$. As the currency of the Portuguese empire, it was in use in Brazil from the earliest days of the colonial period, and remained in use until 1942 ...

and that circulated in the time in which Brazil was still a colony of Portugal.
On 28 February 1986 cruzado currency was created by José Sarney, the 31st president of Brazil, when

Dilson Funaro Dilson Domingos Funaro (October 23, 1933 – April 12, 1989) was a Brazilian businessman and politician, owner of the toy company ''Indústria de Brinquedos Trol''. He was also CEO of the Brazilian Development Bank and later Finance Minister of B ...

was the minister of Finance, through Cruzado plan as part of a set of economic measures to freeze wages and prices. It was marked by return of ''centavo'' as a subdivision of the currency, since it had been abolished in 1984, due to devaluation of the cruzeiro (second).

Cruzeiro (second) with cruzado overstamp

Cruzado replaced cruzeiro (second) at a rate of 1 cruzado to 1000 cruzeiros. From 28 February 1986 on 10 000 cruzeiros notes with face of

Ruy Barbosa Ruy Barbosa de Oliveira (5 November 1849 – 1 March 1923), also known as Rui Barbosa, was a Brazilian polymath, diplomat, writer, jurist, and politician. Born in Salvador, Bahia, and a distinguished and staunch defender of civil liberties and ...

, 50 000 cruzeiros notes with face of Oswaldo Cruz and 100 000 cruzeiros notes with face of Juscelino Kubitschek were reused with only on front/obverse round-shaped overstamps of value 10, 50 and 100 cruzados. All these banknotes were 154 x 74 mm in size and consisted of series year 1986.banknotes were 154 x 74 mm in size
/ref>

Cruzado

In October 1986 started the distribution of cruzado banknotes in a new standard. These banknotes had only replaced caption and face value of 10, 50 and 100 cruzados. New 500 cruzados notes with face of

Heitor Villa-Lobos Heitor Villa-Lobos (March 5, 1887November 17, 1959) was a Brazilian composer, conductor, cellist, and classical guitarist described as "the single most significant creative figure in 20th-century Brazilian art music". Villa-Lobos has become the ...

were also released in October 1986. New 1000 cruzados banknotes with face of Machado de Assis were issued in 1987. While new 5000 cruzados notes with face of Candido Portinari and new 10 000 cruzados notes with face of

Carlos Chagas Carlos Justiniano Ribeiro Chagas, or Carlos Chagas (; July 9, 1879 – November 8, 1934), was a Brazilian sanitary physician, scientist, and bacteriologist who worked as a clinician and researcher. He discovered Chagas disease, also called ''Ame ...

were released in 1988, and these would become the last banknotes of this monetary standard. Cruzado currency was represented by symbol Cz$ and had code ISO 4217 BRC. Historical currency codes All cruzados banknotes were 154 x 74 mm in size and were withdrawn from circulation throughout the 1990.

Cruzado banknote not issued

There was a plan of 50 000 cruzados banknote with effigie of Carlos Drummond de Andrade to be released in 1989. However it was not launched due to change of currency for cruzado novo in January 1989.

Cruzado with cruzado novo overstamp

On 15 January 1989 ''cruzado novo'' was created by José Sarney 31st president of Brazil, when Naílson da Nóbrega was minister of Finance, through Summer plan (fourth stabilization plan) which was aimed at controlling rising inflation. Inflation went from 228% in year 1987 to 629% in year 1988. Cruzado novo replaced cruzado at a rate of 1 cruzado novo to 1000 cruzados, but was short-lived from 15 January 1989 until 15 March 1990 just 14 months.

Timeline of Brazilian economic stabilization plans The following is a timeline of the Brazilian economy, economic stabilization plans in the "new Republic" (post-military dictatorship) era, a period characterized by intense inflation of the local currency, exceeding 2,700% in the period of 1989 to ...

, 15 March 1990 - Plano Collar. Banknotes of 1000 cruzados with face of Machado de Assis, 5000 cruzados with face of Candido Portinari and 10 000 cruzados with face of Carlos Chagas were reused with only on front/obverse triangular overstamps of value 1, 5 and 10 cruzados novos. All these banknote were 154 x 74 mm in size and of series year 1989. Cruzado novo was represented by symbol NCz$ and had ISO 4217 BRN.

Footnotes

References

* {{cite book , title=

Standard Catalog of World Paper Money The ''Standard Catalog of World Paper Money'' was a well-known catalogue of banknotes that was published by Krause Publications in three volumes. These catalogues are commonly known in the numismatic trade as the Pick catalogues, as the numberin ...

: Modern Issues 1961 - present , edition=24th , chapter=Brazil Picknr 206-218 , author=Tracey L. Schmidt , publisher=Krause Publications , year=2018 , isbn=9781440248597

External links

Images of the Brazilian cruzados banknotes (Pick nr 206 to 218) are downloaded from this public-domain website.