Banknotes of the Brazilian cruzado

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 was the sole printer of these banknotes.[1]:29–35 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.

Brazilian cruzado
cruzado brasileira
100 cruzados banknote
ISO 4217
CodeBRC
Number076
Denominations
Pluralcruzados
SymbolCz$
Banknotes10, 50, 100, 500, 1000, 5000, 10 000 Cz$
Demographics
Date of introduction28 February 1986
Replacedcruzeiro (second)
Replaced bycruzado novo
User(s) Brazil
Issuance
Central bankCentral Bank of Brazil
 Websitewww.bc.gov.br
PrinterCasa da Moeda do Brasil
 Websitewww.casadamoeda.gov.br
Valuation
Inflation147%(1986)
228%(1987)
629%(1988)
 SourceIMF International Financial Statistics (IFS)
Value1 cruzado at 1000 cruzeiros
Banknotes       dimension 154 x 74 mm

History

The name cruzado was inspired by the name of an old Portuguese silver coin, which had value of 400/480 réis and that circulated in the time in which Brazil was still a colony of Portugal.[2][3]
On 28 February 1986 cruzado currency was created by José Sarney 31st president of Brazil, when Dilson Funaro 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 cruzeiro (second).[4]

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, 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.[1]:29–30 All these banknotes were 154 x 74 mm in size and consisted of series year 1986.[5]

Cruzeiro with cruzado overstamp (BRC)
Pick nr Image Value Description First issue
206
Cz$10 Front 10 000 cruzeiros banknote overstamped with a value of 10 cruzados. 28 February 1986
207
Cz$50 Front 50 000 cruzeiros banknote overstamped with a value of 50 cruzados. 28 February 1986
208
Cz$100 Front 100 000 cruzeiros banknote overstamped with a value of 100 cruzados. 28 February 1986

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 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 were released in 1988, and these would become the last banknotes of this monetary standard.[1]:31–34 Cruzado currency was represented by symbol Cz$ and had code ISO 4217 BRC.[6] All cruzados banknotes were 154 x 74 mm in size and were withdrawn from circulation throughout the 1990.[5]

Cruzado (BRC)
Pick nr Image Value Description First issue
209
Cz$10 Front; Ruy Barbosa de Oliveira
Diplomat, writer, jurist and politician.		 October 1986
 Back; 2nd convention signed at
The Hague on 18 October 1907.
210
Cz$50 Front; Oswaldo Gonçalves Cruz
Physician, pioneer bacteriologist, epidemiologist and public health officer.		 October 1986
 Back; Neo-Moorish Palace of Manguinhos in Rio de Janeiro,
seat of Oswaldo Cruz Foundation.
211
Cz$100 Front; Juscelino Kubitschek
21st president of Brazil,
initiator behind building Brasilia.		 October 1986
 Back; Buildings of Brasilia,
National Congress, "Catetinho"
and Alvorado Palace.
212
Cz$500 Front; Heitor Villa-Lobos
Composer, conductor, cellist, pianist and guitarist.		 October 1986
 Back;
Heitor Villa-Lobos as a conductor.
213
Cz$1000 Front;
Joaquim Maria Machado de Assis Writer of Brazilian literature.		 1987
 Back;
View of 1 March street in 1905
Rio de Janeiro.
214
Cz$5000 Front; Candido Portinari
Neo-realist painter
"Tiradentes" in the background.		 1988
 Back; Portinari drawing panel
"Baianas" in 1953.
215
Cz$
10000		 Front; Carlos Chagas
Sanitary physicien, bacteriologist.		 1988
 Back; Chagas at work in laboratory.

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.[7] 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.[8] Cruzado novo replaced cruzado at a rate of 1 cruzado novo to 1000 cruzados, but was short-lived from 15 January 1989 till 15 March 1990 just 14 months.[9] 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.[1]:34–35 All these banknote were 154 x 74 mm in size and of series year 1989.[5] Cruzado novo was represented by symbol NCz$ and had ISO 4217 BRN.[6]

Cruzado with cruzado novo overstamp (BRN)
Pick nr Image Value Description First issue
216
NCz$1 Front; 1000 cruzados banknote overstamped with a value of
1 cruzado novo.		 15 January 1989
217
NCz$5 Front; 5000 cruzados banknote overstamped with a value of
5 cruzados novos.		 15 January 1989
218
NCz$10 Front; 10 000 cruzados banknote overstamped with a value of 10 cruzados novos. 15 January 1989


Preceded by
Cruzeiro (second)		 Cruzado
1986-1989		 Succeeded by
Cruzado novo
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See also

Footnotes
  1. Catalogo Schlichting:Cedulas Nacionais 1944 a 2016, 6 edicao 2016
  2. Banco Central do Brasil, Money in Brazil, December 2004, page 14, 400 réis - cruzado - prata (silver)
  3. Krause, Chester L (1991) Standard Catalog of World Coins:1801-1991 (19th ed.) Krause Publications. ISBN 0873411501. km453 - 400 réis - silver cruzado
  4. centavo-coins, date of issue 3 March 1986.
  5. banknotes were 154 x 74 mm in size
  6. Historical currency codes
  7. 50 000 cruzados banknote was being held in reserve.
  8. The Hyperinflation in Brazil, 1980-1994
  9. Timeline of Brazilian economic stabilization plans, 15 March 1990 - Plano Collar.

References
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