The cruzeiro novo ("new cruzeiro", represented by the symbol NCr$) was the currency of Brazil between 1967 and 1970. It was introduced due to inflation and financial instability in the country, and had a conversion rate of 1 cruzeiro novo equal to 1000 "old" cruzeiros.
 1 centavo coin from 1967, issued for the cruzeiro novo | |
| Unit | |
|---|---|
| Plural | cruzeiros novos |
| Symbol | NCr$ |
| Denominations | |
| Subunit | |
| 1⁄100 | centavo |
| Plural | |
| centavo | centavos |
| 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[1] |
| Replaced | Cruzeiro (1st version) |
| Date of withdrawal | 15 May 1970 (replaced by the cruzeiro) 1 July 1972 (no longer legal tender)[2] |
| Replaced by | Cruzeiro (2nd version) |
| User(s) | Brazil |
In 1970, the currency was renamed to simply "cruzeiro", and subsequently had its own banknotes and other coins issued.[2]
History
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]
| Reverse | Obverse | Value | Minting period | Obverse description |
|---|---|---|---|---|
| |  | NCr$0.01 | 1967–1969 | Portrays the effigy of the Republic |
 |  | NCr$0.02 | ||
 |  | NCr$0.05 | ||
_reverse.JPG) | _front.JPG) | NCr$0.10 | 1967–1970 | |
 |  | NCr$0.20 | ||
_reverse.JPG) | _front.JPG) | 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
Bibliography
- Rodrigues, Natália. "Cruzeiro Novo - História do Brasil" [Cruzeiro Novo - History of Brazil]. InfoEscola (in Brazilian Portuguese). Retrieved 6 July 2021.
| 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 |
