Information on currency : Portugese escudo

Page last updated on December 9, 2023

Currency code (ISO 4217):

PTE

Numeric code:

620

Currency symbol:

Subunit (quantity):

Centavo (100)

Country or territory:

Portugal (PT)

Status:

No longer in use

Replaced by

Euro (EUR)

Exchange rate mechanism:

Monetary authority:

(created: )

The Portuguese Escudo was the official currency of Portugal before the country adopted the Euro. It was in use from 1911 to 2002.

The Portuguese Escudo was introduced after the proclamation of the Portuguese Republic in 1910. It was replaced by the Euro on January 1, 2002, when Portugal, along with several other European countries, adopted the common currency.

Subunits

The Portuguese Escudo was divided into 100 centavos.

Coins and Banknotes

The Portuguese Escudo had various denominations of coins and banknotes. Coins were issued in centavos and Escudos, while banknotes were issued in various denominations.

Euro Adoption

Portugal adopted the Euro on January 1, 2002. From this date, the Portuguese Escudo ceased to be legal tender, and all transactions switched to the Euro.

Since the adoption of the Euro, the Portuguese Escudo is no longer in circulation, and any remaining banknotes and coins are considered collector's items. The Euro is now the official currency used in Portugal.

Exchange Rate

The exchange rate at which the Portuguese Escudo was replaced by the Euro was fixed at 1 Euro = 200.482 Portuguese Escudos.