[memorysafety]

I'll cross-post instead of guessing. Another comment here:

> URVs were quoted in cruzeiros reais and its intrinsic value was pegged to three price indices and had a fixed parity of 1-to-1 to the daily U.S. dollar exchange rate. [0]

> The problem with pegging your currency is that you get a disconnect between the official value and the private value. So introducing this new currency which was pegged, and transferring over only once the disconnect was resolved was the stroke of genius.

[0] https://en.wikipedia.org/wiki/Unidade_real_de_valor

[hakfoo]

The gimmick here was that there was no actual URV currency. No notes or coins, no bank accounts denominated in it. This prevented developing a free-market exchange rate that undermined the abstract value the state was trying to establish.

I could say "I'm only willing to pay 0.50USD for 1URV". If someone takes me up on it, the fulfillment would have to take place in cruzieros-- the transaction becomes "I'm paying 0.50USD to 15 cruzieros" or whatever. This sort of transaction would have more impact on the cruziero's exchange rate than the URV's.

I could imagine trading some sort of "osudeo-URV" derivative product that was basically a prepaid purchase contract, but its value would be heavily affected by cruziero-related risk.