Brazil introduced the cruzeiro real (CR$) as a new currency standard. The change was part of Brazil’s broader struggle to stabilize an economy that had suffered chronic high inflation and repeated currency reforms. The cruzeiro real served as a transitional currency, preceding the launch of the “real” (R$), which would become Brazil’s current currency. By design, the cruzeiro real was short-lived: it remained in effect until 30 June 1994, when it was replaced by the real. The reform affected everyday commerce immediately—prices, contracts, accounting, and wages had to be converted into the new unit.
