Brazilian cruzeiro novo

Cruzeiro novo
Cruzeiro novo
	1 centavo coin from 1967, issued for the cruzeiro novo
Denominations
Subunit
1⁄100	centavo
Plural	cruzeiros novos
centavo	centavos
Symbol	NCr$
Banknotes	1, 5, 10 and 50 centavos; 1, 5 and 10 cruzeiros novos; (overstamped cruzeiro notes)
Coins	1, 2, 5, 10, 20 and 50 centavos
Demographics
Date of introduction	13 February 1967
Source	[1]
Replaced	Cruzeiro (1st version)
Date of withdrawal	15 May 1970 (replaced by the cruzeiro); 1 July 1972(no longer legal tender banknotes up to 10 centavos); 1 July 1973(no longer legal tender banknotes up to 1 cruzeiro novo); 1 July 1974(no longer legal tender banknotes up to 5 cruzeiros novos) ; 1 July 1975(no longer legal tender all banknotes of this denomination)
Source	[2]
Replaced by	Cruzeiro (2nd version)
User(s)	Brazil
	This infobox shows the latest status before this currency was rendered obsolete.

The cruzeiro novo ("new cruzeiro", represented by the symbol NCr$) was the currency of Brazil between 1967 and 1970. It was introduced due to inflation and financial instability in the country, and had a conversion rate of 1 cruzeiro novo equal to 1000 "old" cruzeiros.

In 1970, the currency was renamed to simply "cruzeiro", and subsequently had its own banknotes and other coins issued.[2]

Coins

Six denominations of coins were issued in 1967 – and some continued to be issued even after the currency was renamed in 1970. The cruzeiro novo coins issued were 1, 2, 5, 10, 20 and 50 centavos.[3]

Standard circulating coins of the Cruzeiro Novo (1967–1970)
Value	Minting period	Obverse description	Withdrawn
NCr$0.01	1967–1969	Portrays the effigy of the Republic	31 dec 1980
NCr$0.02
NCr$0.05
NCr$0.10	1967–1970		15 aug 1984
NCr$0.20	1967–1970
NCr$0.50	1967

Banknotes

Banknotes with denominations higher than Cr$10 from the previous currency, the first cruzeiro, remained legal tender after being officially overstamped by Central Bank of Brazil with their new value, 1⁄1000 of their face value.[1]

A Cr$10 note overstamped with the text "1 centavo", indicating it was now worth NCr$0.01

References

"Resolução Nº 47" (PDF) (in Portuguese). Central Bank of Brazil. 8 February 1967. Retrieved 6 July 2021.
"Resolução Nº 144" (PDF) (in Portuguese). Central Bank of Brazil. 31 March 1970. Retrieved 6 July 2021.
"Moedas produzidas" [Issued coins] (in Portuguese). Central Bank of Brazil. Retrieved 6 July 2021.

Bibliography

Rodrigues, Natália. "Cruzeiro Novo - História do Brasil" [Cruzeiro Novo - History of Brazil]. InfoEscola (in Portuguese). Retrieved 6 July 2021.

Brazilian cruzeiro novo
Preceded by: Cruzeiro (first iteration) Reason: inflation Ratio: 1 cruzeiro novo = 1000 cruzeiros	Currency of Brazil 13 February 1967 – 15 May 1970	Succeeded by: Cruzeiro (second iteration) Reason: currency renaming Ratio: at par

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[res47-1] "Resolução Nº 47" (PDF) (in Portuguese). Central Bank of Brazil. 8 February 1967. Retrieved 6 July 2021.

[res144-2] "Resolução Nº 144" (PDF) (in Portuguese). Central Bank of Brazil. 31 March 1970. Retrieved 6 July 2021.

[3] "Moedas produzidas" [Issued coins] (in Portuguese). Central Bank of Brazil. Retrieved 6 July 2021.