Brazilian cruzado novo

The cruzado novo was the short-lived currency of Brazil between 15 January 1989 and 15 March 1990. It replaced the cruzado in the rate of 1000 cruzados = 1 cruzado novo. It had the symbol

N

C

z

S

‖

{\displaystyle \mathrm {NCzS} \!\!\!\Vert }

and the ISO 4217 code BRN. In 1990, the cruzado novo was renamed the (third) cruzeiro. This currency was subdivided in 100 centavos.

The redenomination was the result of Plano Verão, which would become one of several heterodox plans in an attempt to stabilize the currency, and the path of redenomination was used to try to circumvent possible legal challenges due to rights established in the currency at that time, as happened in the Bresser Plan.

The method of monetary redenomination would be used again in 1990, when Fernando Collor de Mello assumed the presidency, and this redenomination to cruzeiro was on par with this currency then in circulation, despite the even darker effects of such an economic plan.

Unlike the cruzeiro novo denomination of the late 1960s, it was not a transitional pattern between two currency denominations of the same name. Banknotes and coins with that denomination were released in 1989 and 1990.