10 000 Cruzados

This note belongs to the Cruzado series introduced in 1986 as part of the Plano Cruzado — Brazil's attempt to break hyperinflation by freezing prices and replacing the cruzeiro at a rate of 1,000 to 1. The plan collapsed within a year. By the time this 10,000 Cruzado note was issued in 1988, inflation had already rendered lower denominations essentially useless, and the government was printing ever-higher values in a losing race against price levels.

The Cruzado itself was replaced by the Cruzado Novo in January 1989, at 1,000 to 1 again — meaning this note survived as legal tender for under twelve months.