View source for Brazilian cruzeiro (1990–1993)

{{Short description|Brazilian currency from 1990 to 1993}}
{{For|other Brazilian currencies called "cruzeiro"|Brazilian cruzeiro (disambiguation){{!}}Brazilian cruzeiro}}
{{Multiple issues|
{{more citations needed|date=July 2021}}
{{Expand Portuguese|Cruzeiro (1942–1967)|date=July 2021}}
}}

{{Infobox currency
| name = Cruzeiro
| image_1 = File:Cédula 500000 Cruzeiros Mário de Andrade AnvRev.jpg
| image_title_1 = A 500 thousand cruzeiros note portraying [[Mário de Andrade]]
| iso_code = BRE
| issuing_authority =
| issuing_authority_title =
| issuing_authority_website =
| date_of_introduction = 16 March 1990
| date_of_introduction_source = <ref>{{ cite web | url=https://www2.camara.leg.br/legin/fed/medpro/1990/medidaprovisoria-168-15-marco-1990-370736-publicacaooriginal-1-pe.html | title=Medida Provisória Nº 168 | language=pt-br | publisher=[[Chamber of Deputies (Brazil)|Câmara dos Deputados]] | date=15 March 1990 | access-date=5 July 2021 }}</ref>
| date_of_withdrawal = 31 July 1993
| date_of_withdrawal_source = <ref>{{ cite web | url=http://www.planalto.gov.br/ccivil_03/mpv/1990-1995/336.htm | title=Medida Provisória Nº 336 | date=28 July 1993 | language=pt-br | publisher={{interlanguage link|Casa Civil (Brazil)|pt|Casa Civil (Brasil)|lt=Casa Civil}} | access-date=5 July 2021 }}</ref>
| unofficial_users =
| using_countries = [[Brazil]]
| inflation_title =
| inflation_rate =
| inflation_source_date =
| inflation_method =
| subunit_ratio_1 = {{frac|1|100}}
| subunit_name_1 = [[centavo]]
| subunit_inline_note_1 =
| symbol = Cr$
| symbol_subunit_1 = <!-- thru |symbol_subunit_5 = -->
| nickname =
| nickname_subunit_1 = <!-- thru |nickname_subunit_5 = -->
| plural = cruzeiros
| plural_subunit_1 = centavos
| used_coins = 1, 5, 10, 50,<br>100, 500,<br>1,000 and 5,000 cruzeiros
| used_banknotes = 50, 100, 200, 500,<br>1,000, 5,000,<br>10,000, 50,000<br>100,000 and 500,000 cruzeiros
| replaced_currency = [[Brazilian cruzado novo|Cruzado novo]]
| replaced_by_currency = [[Brazilian cruzeiro real|Cruzeiro real]]
| printer =
| value =
| mint =
| mint_website =
| obsolete = yes
<!-- | era = 1990–1993 -->
}}

The '''cruzeiro''' was the [[currency]] of [[Brazil]] between 1990 and 1993. It was the third iteration of a Brazilian currency named "cruzeiro", and replaced the [[Brazilian cruzado novo|cruzado novo]] at par. It was used until 1993, when it was replaced by the [[Brazilian cruzeiro real|cruzeiro real]] at a rate of 1 cruzeiro real = 1000 cruzeiros.

== History ==
In late 1989 and early 1990, inflation reached increasingly rampant levels, with monetary deterioration throwing most of the available resources into financial speculation.
In an attempt to reduce this, President-elect [[Fernando Collor]] contacts President [[José Sarney]], then at the end of his term and by mutual agreement, a bank holiday is determined from March 12 to 15.
When President Collor took office, 80% of the amount deposited in the accounts, except for accounts that had a maximum value of 50,000 cruzados novos, had their value confiscated and frozen in the accounts for a period of 18 months, except in exceptional cases.
The currency in circulation was renamed to Cruzeiro and due to the economic shock, the economy went into recession at the time.
At the time, the old [[Brazilian cruzeiro (1967–1986)|Cruzeiro]] banknotes (up to 10 centavos of [[brazilian cruzado novo|Cruzado Novo]]) are withdrawn and [[brazilian cruzado|Cruzado]] banknotes still in circulation began to be withdrawn and this process continued until the end of 1990.
Despite the fact that inflation had reduced in relation to the levels it had in the early 1990s, the Collor Plan was not successful in reducing inflation to reasonable levels, and despite the shocks of the [[Plano Collor]] I in 1990 and the subsequent Plano Collor II in 1991, inflation remained high, and political instability made economic stabilization difficult, which was only possible with the advent of the [[Plano Real]] in 1994.

==Coins==

The 1, 5, 10 and 50 centavo coins issued in 1989 for use with the previous currency continued in use after the introduction of the cruzeiro. In 1990, stainless-steel 1, 5, 10 and 50 cruzeiro coins were introduced, completing the coin family started in 1989. With the exception of the value of 1 cruzeiro, issued only in 1990, the other coins of this family were issued until 1992.

{| class="wikitable"
|+ Standard circulating coins of the Cruzeiro (first family)
! Reverse !! Obverse !! Value !! Minting period !! Obverse description
|-
| [[File:BRE 1 - Reverso.JPG|100px]] || [[File:BRE 1 - Anverso.JPG|100px]] || Cr$1
|style="text-align: center;"| 1990 || Portrays a section of the [[rhombus]] from the [[flag of Brazil]]
|-
| [[File:5 Cruzeiros BRE de 1990.png|100px]] || [[File:5 Cruzeiros BRE de 1990 (verso).png|100px]] || Cr$5
|rowspan="3" style="text-align: center;"| 1990–1992 || Portrays a [[salt evaporation pond]] worker
|-
| [[File:BRE 10 - Anverso.JPG|100px]] || [[File:BRE 10 - Reverso.JPG|100px]] || Cr$10 || Portrays a [[Rubber tapping|rubber tapper]] and a factory plant
|-
| [[File:50-cruzeiros-1991-reverso.png|100px]] || [[File:50-cruzeiros-1991-anverso.png|100px]] || Cr$50 || Portrays a woman selling goods in a [[street market]]
|}

In 1992, on the occasion of the [[Eco 92]] in [[Rio de Janeiro (city)|Rio de Janeiro]], a new family of coins began to be issued. The coins of 100 and 500 cruzeiros coins were the first to be released, which would be accompanied by the 1000 cruzeiros coin, launched at the end of the same year. These coins were issued until 1993, when the [[cruzeiro real]] was launched.

{| class="wikitable"
|+ Standard circulating coins of the Cruzeiro (second family)
! Reverse !! Obverse !! Value !! Minting period !! Obverse description
|-
| [[File:100 Cruzeiros BRE de 1992.png|100px]] || [[File:100 Cruzeiros BRE de 1992 (verso).png|100px]] || Cr$100
|rowspan="3" style="text-align: center;"| 1992–1993 || Portrays a [[manatee]], and its Portuguese name in the lettering "Peixe-boi"
|-
| [[File:500-cruzeiros-1992-reverso.png|100px]] || [[File:500-cruzeiros-1992-anverso.png|100px]] || Cr$500 || Portrays a [[sea turtle]], and its Portuguese name in the lettering "Tartaruga Marinha"
|-
| [[File:1000 Cruzeiros BRE de 1993.png|100px]] || [[File:1000 Cruzeiros BRE de 1993 (verso).png|100px]] || Cr$1000 || Portrays [[Pterophyllum|angelfish]], and their Portuguese name in the lettering "Acará"
|}

The cruzeiro only had one circulating commemorative coin, celebrating the 200th anniversary of [[Tiradentes]]'s death (1792–1992).

{| border="1" class="wikitable mw-collapsible"
! colspan="5" | Circulating commemorative coins of the Cruzeiro (1990–1993)
|-
! Reverse !! Obverse !! Value !! Minting period !! Description
|-
| [[File:5000-cruzeiros-tiradentes-1992-reverso.png|100px]] || [[File:5000-cruzeiros-tiradentes-1992-anverso.png|100px]] || Cr$5000
|style="text-align: center;"| 1992 || Portrays the bust of Tiradentes, and the lettering "Liberdade" (Liberty), "Cidadania" (Citizenship) and "Tiradentes"
|}

Additionally, the cruzeiro also had two distinct non-circulating silver commemorative coins.

{| border="1" class="wikitable mw-collapsible mw-collapsed"
! colspan="5" | Non-circulating commemorative coins of the Cruzeiro (1990–1993)
|-
! Reverse !! Obverse !! Value !! Minting period !! Description
|- style="height:100px;"
| [[File:500-cruzeiros-1991p-reverso.png|100px]] || [[File:500-cruzeiros-1991p-anverso.png|100px]] || Cr$500
|style="text-align: center;"| 1991 || Commemorates the 500th anniversary (1492–1992) of the [[Voyages of Christopher Columbus|discovery of the Americas]] by the Europeans
|- style="height:100px;"
| {{unknown|(missing photo)}} || {{unknown|(missing photo)}} || Cr$2000
|style="text-align: center;"| 1992 || Commemorates the [[Earth Summit|UN Conference on Environment and Development]], held in Rio de Janeiro in 1992
|}

==Banknotes==
The first banknotes were overprints on [[cruzado novo]] notes, in denominations of 50, 100, 200 and 500 cruzeiros and emergency banknote of 5000 cruzeiros.
<gallery mode=packed>
File:200 cruzados novos.jpg|A NCz$200 note overstamped as Cr$200
</gallery>

In 1990, regular notes in values of 100, 200, 500, 1000 and 5000 cruzeiros were introduced, followed by 10,000 and 50,000 cruzeiros in 1991, 100,000 cruzeiros in 1992 and 500,000 cruzeiros in 1993.
In 1992, the 50 and 100 cruzeiro banknotes were withdrawn and the higher denominations were withdrawn in 1994, although banknotes of up to 1000 cruzeiros have been seen very rarely since late 1993.

{{n-start|title=Brazilian cruzeiro}}
{{n-before|currency=[[Brazilian cruzado novo|Cruzado novo]]|reason=currency renaming|ratio=at par}}
{{n-currency|location=Brazil|start=16 March 1990|end=31 July 1993}}
{{n-after|currency=[[Brazilian cruzeiro real|Cruzeiro real]]|reason=inflation|ratio=1 cruzeiro real = 1000 cruzeiros}}
{{end}}

== References ==
{{Reflist}}

== Bibliography ==
* {{ cite web | url=https://www1.folha.uol.com.br/fsp/dinheiro/fi1603200534.htm | title=O que foi o Plano Collor | language=pt-br | trans-title=What the Collor Plan was | website=[[Folha de S.Paulo]] | location=[[São Paulo]] | date=16 March 2005 | access-date=5 July 2021 }}

{{Portal|Brazil|Money|Numismatics}}
{{Historical currencies of Brazil}}

{{DEFAULTSORT:Brazilian cruzeiro (1990-1993)}}
[[Category:Historical currencies of Brazil|cruzeiro (1990-1993)]]
[[Category:20th century in Brazil]]
[[Category:1990s in Brazil]]
[[Category:Currencies introduced in 1990]]