Brazil

# **Federative Republic of Brazil**

## **Full Financial History Report**

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### **Basic Data:**

- **ISO Country Code:** BR
- **Official Language:** Portuguese
- **ISO Language Code (main):** pt
- **Current Official Currency:** Real
- **ISO Currency Code (current):** BRL

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## **1. Monetary History of Brazil**

Brazil's monetary history reflects the country’s economic and social evolution from the colonial period to the present day. Influenced by indigenous, European, and African cultures, Brazil’s monetary system has gone through numerous transformations marked by currency changes, high inflation, economic plans, and several monetary reforms.

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## **2. Currencies Circulated in Brazil (since the beginning of monetary production)**

Below is a detailed list of all currencies that have circulated in Brazil:

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### **2.1. Real (Portuguese and Colonial Real)**

- **ISO Code:** —
- **Singular Name:** Real
- **Plural Name:** Réis *(irregular plural)*
- **Monetary Subdivision:** 1 Real = 1000 réis
- **Fraction Singular Name:** Réis
- **Fraction Plural Name:** Réis
- **Start Date of Production:** c. 1500 *(with the start of the colonial period)*
- **End Date of Production:** 1942
- **Start Date of Circulation:** c. 1500
- **End Date of Circulation:** 1942
- **Mint:** Casa da Moeda do Brasil *(founded in 1694)*
- **Issuing Bank:** Not applicable *(used during colonial and imperial periods)*
- **Coin Denominations:** 10, 20, 40, 80 réis; 1, 2, 4, 10, 20 thousand-réis
- **Banknote Denominations:** 5, 10, 20, 50, 100, 500, 1000 thousand-réis
- **Historical Context:** Used throughout the colonial, imperial, and early republican periods.
- **Designs / Symbols:** Featured Portuguese kings, religious figures, and symbols of the Brazilian monarchy.
- **Current Status:** Out of circulation
- **Issuing Authority:** Portuguese Crown, then Imperial and Republican Governments
- **Relevant Legislation:** Based on the real-based monetary system until the introduction of the thousand-réis
- **Curiosities:** The plural form is “réis” even though the singular is “real”. It was common to use “mil-réis” for larger values.

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### **2.2. Mil-Réis (R$)**

- **ISO Code:** —
- **Singular Name:** Mil-Réis
- **Plural Name:** Mil-Réis
- **Monetary Subdivision:** 1 Mil-Réis = 1000 réis
- **Fraction Singular Name:** Réis
- **Fraction Plural Name:** Réis
- **Start Date of Production:** 1900
- **End Date of Production:** 1942
- **Start Date of Circulation:** 1900
- **End Date of Circulation:** 1942
- **Mint:** Casa da Moeda do Brasil
- **Issuing Bank:** Banco do Brasil
- **Coin Denominations:** 5, 10, 20, 40, 100 centavos *(subdivisions)*; 1, 2, 5, 10, 20, 50, 100 thousand-réis
- **Banknote Denominations:** 100, 200, 500, 1000, 5000, 10,000, 50,000, 100,000 thousand-réis
- **Historical Context:** Introduced to facilitate commercial transactions with higher values.
- **Designs / Symbols:** Included historical figures, flags, republican symbols, and cultural elements.
- **Print Runs / Commemorative Issues:** Special notes for national events and important anniversaries.
- **Current Status:** Out of circulation
- **Issuing Authority:** Banco do Brasil, National Treasury
- **Relevant Legislation:** Law of Monetary Reform of 1942
- **Featured Figures:** Marshal Deodoro da Fonseca, Rui Barbosa, Tiradentes, among others

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### **2.3. Cruzeiro (Cr$)** – **First Issue**

- **ISO Code:** BRB
- **Singular Name:** Cruzeiro
- **Plural Name:** Cruzeiros
- **Monetary Subdivision:** 1 Cruzeiro = 100 centavos
- **Fraction Singular Name:** Centavo
- **Fraction Plural Name:** Centavos
- **Start Date of Production:** 1942
- **End Date of Production:** 1967
- **Start Date of Circulation:** 1942
- **End Date of Circulation:** 1967
- **Mint:** Casa da Moeda do Brasil
- **Issuing Bank:** Banco do Brasil
- **Coin Denominations:** 1, 2, 5, 10, 20, 50 centavos
- **Banknote Denominations:** 1, 2, 5, 10, 20, 50, 100 cruzeiros
- **Historical Context:** Replaced the mil-réis to modernize the monetary system.
- **Designs / Symbols:** Nature elements, typical animals, and historical figures.
- **Print Runs / Commemorative Issues:** Commemorative coins and notes for sports and cultural events.
- **Current Status:** Out of circulation
- **Issuing Authority:** Central Bank of Brazil *(until 1967)*
- **Relevant Legislation:** Decree-Law No. 4,758/42
- **Featured Figures:** Duke of Caxias, José Bonifácio, Father Anchieta

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### **2.4. Cruzeiro Novo (NCR$)**

- **ISO Code:** BRB *(temporarily)*
- **Singular Name:** Cruzeiro Novo
- **Plural Name:** Cruzeiros Novos
- **Monetary Subdivision:** 1 Cruzeiro Novo = 100 centavos
- **Fraction Singular Name:** Centavo
- **Fraction Plural Name:** Centavos
- **Start Date of Production:** 1967
- **End Date of Production:** 1970
- **Start Date of Circulation:** 1967
- **End Date of Circulation:** 1970
- **Mint:** Casa da Moeda do Brasil
- **Issuing Bank:** Central Bank of Brazil
- **Coin Denominations:** 1, 2, 5, 10, 20, 50 centavos
- **Banknote Denominations:** 1, 2, 5, 10, 20, 50 cruzeiros novos
- **Historical Context:** Created to fight inflation and replace the old cruzeiro at a ratio of 1 to 1000.
- **Designs / Symbols:** Modern style with bright colors and representations of fauna and flora.
- **Current Status:** Out of circulation
- **Issuing Authority:** Central Bank of Brazil
- **Relevant Legislation:** Provisional Measure No. 241/67
- **Featured Figures:** Personalities from science and Brazilian art

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### **2.5. Cruzeiro (Cr$)** – **Second Issue**

- **ISO Code:** BRC
- **Singular Name:** Cruzeiro
- **Plural Name:** Cruzeiros
- **Monetary Subdivision:** 1 Cruzeiro = 100 centavos
- **Fraction Singular Name:** Centavo
- **Fraction Plural Name:** Centavos
- **Start Date of Production:** 1970
- **End Date of Production:** 1986
- **Start Date of Circulation:** 1970
- **End Date of Circulation:** 1986
- **Mint:** Casa da Moeda do Brasil
- **Issuing Bank:** Central Bank of Brazil
- **Coin Denominations:** 1, 5, 10, 20, 50 centavos
- **Banknote Denominations:** 1, 2, 5, 10, 20, 50, 100, 500, 1000 cruzeiros
- **Historical Context:** Resumption of the cruzeiro name after a brief use of cruzeiro novo.
- **Designs / Symbols:** Images of endangered animals, monuments, and national personalities.
- **Print Runs / Commemorative Issues:** Special series on the Amazon and environmental preservation.
- **Current Status:** Out of circulation
- **Issuing Authority:** Central Bank of Brazil
- **Relevant Legislation:** Decree No. 76,715/75
- **Featured Figures:** Presidents, artists, writers, and scientists

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### **2.6. Cruzado (Cz$)**

- **ISO Code:** BRZ
- **Singular Name:** Cruzado
- **Plural Name:** Cruzados
- **Monetary Subdivision:** 1 Cruzado = 100 centavos
- **Fraction Singular Name:** Centavo
- **Fraction Plural Name:** Centavos
- **Start Date of Production:** 1986
- **End Date of Production:** 1987
- **Start Date of Circulation:** 1986
- **End Date of Circulation:** 1987
- **Mint:** Casa da Moeda do Brasil
- **Issuing Bank:** Central Bank of Brazil
- **Coin Denominations:** 1, 5, 10, 20, 50 centavos
- **Banknote Denominations:** 1, 5, 10, 20, 50, 100 cruzados
- **Historical Context:** Part of the Cruzado Plan, an attempt to control rampant inflation.
- **Designs / Symbols:** Modern design featuring the symbolic figure "Homem América"
- **Current Status:** Out of circulation
- **Issuing Authority:** Central Bank of Brazil
- **Relevant Legislation:** Provisional Measure No. 821/86
- **Featured Figures:** No specific people featured on banknotes

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### **2.7. Cruzado Novo (NCz$)**

- **ISO Code:** BRZ
- **Singular Name:** Cruzado Novo
- **Plural Name:** Cruzados Novos
- **Monetary Subdivision:** 1 Cruzado Novo = 1000 cruzados
- **Fraction Singular Name:** Milcruzado
- **Fraction Plural Name:** Milcruzados
- **Start Date of Production:** 1989
- **End Date of Production:** 1990
- **Start Date of Circulation:** 1989
- **End Date of Circulation:** 1990
- **Mint:** Casa da Moeda do Brasil
- **Issuing Bank:** Central Bank of Brazil
- **Coin Denominations:** 1, 5, 10, 50 milcruzados
- **Banknote Denominations:** 1, 5, 10, 50, 100, 500 cruzados novos
- **Historical Context:** Launched to reduce zeros in the currency during hyperinflation.
- **Designs / Symbols:** Bright colors and simple design
- **Current Status:** Out of circulation
- **Issuing Authority:** Central Bank of Brazil
- **Relevant Legislation:** Provisional Measure No. 124/89
- **Featured Figures:** No specific people featured on banknotes

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### **2.8. Cruzeiro Real (CR$)**

- **ISO Code:** BRR
- **Singular Name:** Cruzeiro Real
- **Plural Name:** Cruzeiros Reais
- **Monetary Subdivision:** 1 Cruzeiro Real = 1000 cruzados novos
- **Fraction Singular Name:** Milcruzado Novo
- **Fraction Plural Name:** Milcruzados Novos
- **Start Date of Production:** 1993
- **End Date of Production:** 1994
- **Start Date of Circulation:** 1993
- **End Date of Circulation:** 1994
- **Mint:** Casa da Moeda do Brasil
- **Issuing Bank:** Central Bank of Brazil
- **Coin Denominations:** 1, 5, 10, 50 milcruzados novos
- **Banknote Denominations:** 1, 5, 10, 50, 100, 500, 1000 cruzeiros reais
- **Historical Context:** Last currency before the introduction of the real.
- **Designs / Symbols:** Similar style to previous cruzeiro issues
- **Current Status:** Out of circulation
- **Issuing Authority:** Central Bank of Brazil
- **Relevant Legislation:** Provisional Measure No. 474/93
- **Featured Figures:** No specific people featured on banknotes

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### **2.9. Real (R$)** – **Current Official Currency**

- **ISO Code:** BRL
- **Singular Name:** Real
- **Plural Name:** Reais
- **Monetary Subdivision:** 1 Real = 100 centavos
- **Fraction Singular Name:** Centavo
- **Fraction Plural Name:** Centavos
- **Start Date of Production:** 1994
- **End Date of Production:** Ongoing
- **Start Date of Circulation:** 1994
- **End Date of Circulation:** In circulation
- **Mint:** Casa da Moeda do Brasil
- **Issuing Bank:** Central Bank of Brazil
- **Coin Denominations:** R$ 0.05, R$ 0.10, R$ 0.25, R$ 0.50, R$ 1
- **Banknote Denominations:** R$ 2, R$ 5, R$ 10, R$ 20, R$ 50, R$ 100, R$ 200
- **Historical Context:** Launched as part of the Real Plan to stabilize the economy.
- **Designs / Symbols:** Series featuring endangered species such as jaguar, white heron, and green sea turtle.
- **Print Runs / Commemorative Issues:** Special editions commemorating sporting and cultural events.
- **Curiosities:** Notes include advanced anti-counterfeiting features and are made of polymer in the new series.
- **Current Status:** Active
- **Issuing Authority:** Central Bank of Brazil
- **Relevant Legislation:** Provisional Measure No. 542/94 *(Real Plan)*
- **Current Signatories:** President of the Central Bank, Minister of Economy
- **Featured Figures on Current Notes:** Endangered wildlife *(no human figures)*

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## **3. Mints / Production Facilities**

- **Casa da Moeda do Brasil** *(founded in 1694, Rio de Janeiro)*
- **National Printing Office** *(for official documents and stamps)*

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## **4. Chronological Summary of Currency Changes**

| Year | Currency Change | Equivalence |
|------|------------------|-------------|
| 1942 | Mil-Réis → Cruzeiro | 1:1000 |
| 1967 | Cruzeiro → Cruzeiro Novo | 1:1000 |
| 1970 | Cruzeiro Novo → Cruzeiro | 1:1 |
| 1986 | Cruzeiro → Cruzado | 1:1000 |
| 1989 | Cruzado → Cruzado Novo | 1:1000 |
| 1993 | Cruzado Novo → Cruzeiro Real | 1:1000 |
| 1994 | Cruzeiro Real → Real | 1:1000 |

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## **5. Additional Curiosities**

- Brazil was one of the countries with the most frequent currency changes in the 20th century.
- The expression “troco em réis” *(change in réis)* is still used colloquially, despite being outdated.
- The introduction of the Real in 1994 was one of the few successful monetary reforms in recent Brazilian history.
- The new polymer banknote series began in 2020, increasing durability and security against counterfeiting.

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## **6. Historical Issuing Authorities**

- Banco do Brasil
- Central Bank of Brazil
- National Treasury

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## **7. Key Monetary Legislation**

- Decree-Law No. 4,758/42 *(Creation of the Cruzeiro)*
- Provisional Measure No. 241/67 *(Creation of the Cruzeiro Novo)*
- Provisional Measure No. 821/86 *(Creation of the Cruzado)*
- Provisional Measure No. 124/89 *(Creation of the Cruzado Novo)*
- Provisional Measure No. 474/93 *(Creation of the Cruzeiro Real)*
- Provisional Measure No. 542/94 *(Creation of the Real)*

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## **8. Prominent Figures Featured on Banknotes**

- Marshal Deodoro da Fonseca
- Rui Barbosa
- Tiradentes
- Duke of Caxias
- José Bonifácio
- Father Anchieta

Fonte:

Autor do blog: Nilton Romani