50 000 Cruzeiros 3rd edition

By 1992, Brazilian monetary policy was in open crisis. The 50,000 cruzeiro denomination — unthinkable a decade earlier — had become routine grocery-store arithmetic as inflation ran above 1,000% annually. This third edition of the note exists because the earlier two editions were consumed by velocity: notes wore out faster than they could be printed when the same bill changed hands multiple times per day.

With a print run of just over 12 million, this edition is the shortest of the three, and Casa da Moeda was simultaneously producing higher denominations that would render it obsolete within months.