Brazilian Monetary System Reforms


1. Image of coins

Folder: A synthesis of Brazilian Monetary Standards (PDF file - 85Kb)

"CRUZEIRO"
1000 réis = Cr$1
(with "centavos") - 11.01.1942
  • Decree Law nº 4,791, dated 10.05.42 (D.O.U., 10.06.42), instituted the "CRUZEIRO" as the Brazilian monetary unit, with equivalence to one thousand "réis". The "centavo" was also created and corresponds to a one-hundredth part of the "cruzeiro".


Example: 4:750$400 (four "contos", seven hundred and fifty thousand and four hundred "réis")came to be expressed as Cr$ 4.750,40 (four thousand, seven hundred and fifty "cruzeiros" and forty "centavos")
(no "centavos") - 12.02.1964
  • Law nº 4,511, dated 12. 01.1964 (D.O.U., 12.02.64), abolished the fraction of the "cruzeiro" known as the "centavo".For this reason, the amount utilized in the example above came to be written without "centavos": Cr$ 4.750 (four thousand, seven hundred and fifty "cruzeiros").


"CRUZEIRO NOVO"
Cr$1000 = NCr$1
(with "centavos") - 02.13.1967
  • Decree Law nº 1, dated 11.13.1965 (D.O.U.,11.17.65 ), regulated by Decree nº 60,190, dated 02.08.1967 (D.O.U., 02.09.67), instituted the "Cruzeiro Novo" (New Cruzeiro) as a transitory monetary unit equivalent to one thousand "cruzeiros", re-establishing the "centavo". The National Monetary Council issued Resolution nº 47, dated 02.08.1967, and defined 02.13.1967 for the new standard to into effect.


Example: Cr$ 4.750 (four thousand, seven hundred and fifty "cruzeiros") came to be expressed as NCr$ 4.75 (four "cruzeiros novos" and seventy five "centavos").


"CRUZEIRO"
from NCr$ to Cr$
(with "centavos") - 05.15.1970
  • Resolution nº 144, dated 03.31.1970 (D.O.U. ,04. 06.70), issued by the National Monetary Council, re-established the "CRUZEIRO", effective as of 05.15.1970, while maintaining the "centavo".


Example: NCr$ 4.75 (four "cruzeiros novos" and seventy five "centavos") came to be expressed as Cr$ 4.75 (four "cruzeiros" and seventy five " centavos" ).
(no "centavos") - 08.16.1984
  • Law nº 7,214, dated 08.15.1984 (D.O.U., 08.16.1984), abolished the fraction of the" cruzeiro" known as the "centavo". Consequently, the amount in the example, Cr$ 4,75 (four "cruzeiros" and seventy five "centavos"), came to be written as Cr$ 4, thus eliminating the comma and the following digits.


"CRUZADO"
Cr$ 1000 = Cz$1
(with "centavos") - 02.28.1986
  • Decree Law nº 2,283, dated 02.27.1986 (D.O.U., 02.28.86), later substituted by Decree Law nº2,284, dated 03.10.1986 (D.O.U., 03.11.1986) instituted the "CRUZADO" as the new monetary unit equivalent to one thousand cruzeiros, while reestablishing the "centavo". The change in the standard was regulated by National Monetary Council Resolution nº 1,100, dated 02.28.1986.


Example: Cr$ 1.300.500 (one million, three hundred thousand and five hundred "cruzeiros") came to be expressed as Cz$ 1.300,50 (one thousand and three hundred "cruzados" and fifty "centavos").


"CRUZADO NOVO"
Cz$ 1000 = NCz$1
(with "centavos") - 01.16.1989
  • Provisional Measure nº 32, dated 01.15.1989 (D.O.U. , 01.16.89), converted into Law nº 7,730, dated 01.31.1989 (D.O.U. , 02. 01.89), instituted the "CRUZADO NOVO" ( New Cruzado) as the unit of the monetary system, corresponding to one thousand "cruzados" and maintained the "centavo". National Monetary Council Resolution nº 1,565, dated 01.16.1989, regulated implementation of the new monetary standard.


Example: Cz$ 1.300,50 (one thousand and three hundred "cruzados" and fifty "centavos") came to be expressed as NCz$ 1,30 (one "cruzado novo" and thirty "centavos").


"CRUZEIRO"
de NCz$ para Cr$
(with "centavos") - 03.16.1990
  • Provisional Measure nº 168, 03.15.1990 (D.O.U. , 03.16.90), converted into Law nº 8,024, dated 04.12.1990 (D.O.U., 04.13.90), re-established the denomination "CRUZEIRO" for the currency, with one "cruzeiro" corresponding to one "cruzado novo". The "centavo" was maintained. The change in the standard was regulated by National Monetary Council Resolution nº 1,689, dated 03.18.1990.


Example: NCz$ 1.500,00 (one thousand and five hundred "cruzados novos") came to be written as Cr$ 1.500,00 (one thousand and five hundred "cruzeiros").


"CRUZEIRO REAL"
Cr$ 1000 = CR$ 1
(with "centavos") - 08.01.1993
  • Provisional Measure nº 336, dated 07.28.1993 (D.O.U. , 07.29.93), converted into Law nº 8,697, dated 08.27.1993 (D.O.U., 08.28.93) instituted the "CRUZEIRO REAL", effective as of 08.01.93, substituting the "Cruzeiro" with equivalence of one "cruzeiro real" to one thousand "cruzeiros", while maintaining the "centavo". National Monetary Council Resolution nº 2,010, dated 07.28.1993, disciplined the change in the nation's monetary unit.


Example: Cr$ 1.700.500,00 (one million, seven hundred thousand and five hundred "cruzeiros") came to be expressed as CR$ 1.700,50 (one thousand and seven hundred "cruzeiros reais" and fifty "centavos").


"REAL"
CR$ 2.750 = R$ 1
(with "centavos") - 01.07.1994
  • Provisional Measure nº 542, 06.30.1994 (D.O.U. ,06.30.94), instituted the "REAL" as the monetary system unit, effective as of 07.01.1994, with equivalence of CR$ 2.750,00 (two thousand, seven hundred and fifty "cruzeiros reais"), equal to the parity between the URV and the "Cruzeiro Real" set for 06.30.94. The "centavo" was maintained.
    As a measure preparatory to implementation of the Real, the URV --Real Unit of Value-- was created by Provisional Measure nº 434, published in the D.O.U. , dated 02.28.94, and reissued under numbers 457 (D.O.U. , 03.30.94) and 482 (D.O.U. , 04. 29.94) and converted into Law nº8,880, dated 05.27.1994 (D.O.U., 05.28.94).


Example: CR$ 11.000.000,00 (eleven million "cruzeiros reais") came to be expressed as R$ 4.000,00 (four thousand "reais").