Brazilian cruzeiro (1990–1993)

The Brazilian cruzeiro was the currency of Brazil from 1990 to 1993. It replaced the cruzado novo at a rate of 1 cruzado novo = 1 cruzeiro. The ISO 4217 currency code was BRE. It was subdivided into 100 centavos. The cruzeiro was introduced as part of economic reforms designed to combat hyperinflation that plagued the country during the late 1980s and early 1990s.

However, the cruzeiro itself ultimately failed to stabilize the Brazilian economy. Persistent inflation continued, and the currency rapidly depreciated. In 1993, the cruzeiro was replaced by the cruzeiro real at a rate of 1,000 cruzeiros = 1 cruzeiro real. The frequent currency changes and instability were indicative of the severe economic challenges Brazil faced during this period. During its lifespan, the cruzeiro was issued in both banknotes and coins.