The Cruzeiro Real was an intermediate currency, introduced in August 1993 as Brazil's government scrambled to stabilize an economy where annual inflation had exceeded 2,000 percent. It lasted barely a year before being superseded by the Real in July 1994 — the cornerstone of the Plano Real, engineered largely by then-Finance Minister Fernando Henrique Cardoso. Coins denominated in Cruzeiros Reais had the shortest official circulation window of any Brazilian monetary series in the twentieth century.
The Cruzeiro Real was an intermediate currency, introduced in August 1993 as Brazil's government scrambled to stabilize an economy where annual inflation had exceeded 2,000 percent. It lasted barely a year before being superseded by the Real in July 1994 — the cornerstone of the Plano Real, engineered largely by then-Finance Minister Fernando Henrique Cardoso. Coins denominated in Cruzeiros Reais had the shortest official circulation window of any Brazilian monetary series in the twentieth century.