Portuguese escudo (euro)
- Monetary unit:
- the Country code:
Portugal is an exhibiting country the European Union . Monetary unit - euro - to equal 100 eurocents.
Till January, 1st, 2002 cash token moneys of Portugal were escudo - equal 100 centavo. A nominal number of the native currency of Portugal has been presented by notes of denomination 500, 1000, 2000, 5000 and 10000 escudos.
The Portuguese word escudo means a board. The same word designated monetary units in the former Portuguese colonies - Angola, Guinea-Bissau, Macao, Mozambique, Cape Verde Islands, San Tome and Prinsipe, East Timor. Now in the use escudos of Cabo Verde were saved only .
In 1854 the gold standard and the monetary unit have been entered into Portugal a milreis divided into 1000 trips, with the gold
The contents in 1.62585 After monarchy liquidation, since May, 22nd
1911, instead of a milreis the escudo with the same gold content is entered.
During the escudo First World War has sharply depreciated. In 1924 currency exchange regulation has been positioned. Since June, 9th, 1931 as a result of escudo devaluation on 96 % eo the gold content was depressed to 0.066567 g of pure gold. On September, 22nd, 1949 escudo again it has been devalueded.
Since March, 19th, 1973 the escudo rate to US dollar began to fluctuate without restriction of limits of its changes. Since August, 25th, 1977 the escudo rate is positioned on the basis of a basket of currency.
On escudo notes outstanding public figures from history of Portugal are represented. A final series of notes is devoted an epoch of Great geographical opening, with portraits: Juan di Barrush (the historian and the writer), Pedru Alvarish Kabrala (the seafarer who has opened Brazil), Bartolomeu Diash di Novaisha (the seafarer who has opened cape of Kind Hope), Vasco da Gama (the seafarer, for the first time a sea reached India) and Henry Seaman.
Escudo Notes can be interchanged in Central bank of Portugal and are transferred to euro till February, 28th, 2022.
It is updated 05.2012