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Encyclopedia > Portuguese escudo
Escudo
Image:1escudo2000front.jpg Image:1escudo2000back.jpg
1 escudo 2000

The escudo was the official currency of Portugal prior to the introduction of the euro in 1 January 1999 (euro coins and notes were not introduced until 2002). 100 centavos made up one escudo. "Escudo" is Portuguese for "shield". 1 escudo 2000 front File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... 1 escudo 2000 back File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... The euro (plural euro, symbol: €; banking code: EUR) is the official currency of the European Union and single currency for over 300 million Europeans in the following twelve European Union member states: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain; collectively also known as... January 1 is the first day of the calendar year in both the Julian and Gregorian calendars. ... 1999 (MCMXCIX) was a common year starting on Friday, and was designated the International Year of Older Persons by the United Nations. ... For the Cusco album, see 2002 (album). ...

Contents


History

The escudo was introduced in 1911, replacing the real at a rate of 1000 réis =1 escudo. Inflation made centavos essentially useless and centavo coins were eventually withdrawn from circulation (the 2½ escudos coin was the last one with a fractional value in escudos). Prior to elimination of local currencies and at the time of conversion, the exchange rate was 200.482 escudos to one euro. The real (plural réis) was the unit of currency in Portugal until 1911. ...


Last Coins

Coins in circulation at the time of the changeover A coin is usually a piece of hard material, generally metal and usually in the shape of a disc, which is issued by a government to be used as a form of money. ...

  • 5 Escudos (0.0249 Eur)
  • 10 Escudos (0.0499 Eur)
  • 20 Escudos (0.0998 Eur)
  • 50 Escudos (0.2494 Eur)
  • 100 Escudos (0.4988 Eur)
  • 200 Escudos (0.9976 Eur)

Coins are no longer exchangeable for Euro (since 31 December 2002).


Last Banknotes

Banknotes in circulation at the time of the changeover A £20 Ulster Bank banknote. ...

  • 500 Escudos (2.49 Eur)
  • 1000 Escudos (4.99 Eur)
  • 2000 Escudos (9.98 Eur)
  • 5000 Escudos (24.94 Eur)
  • 10,000 Escudos (49.88 Eur)

The Banco de Portugal will exchange Escudo banknotes into euro for a period of 20 years. The Banco de Portugal is the central bank of the Republic of Portugal. ...


The last 100-Escudo Banknote represented Fernando Pessoa, the famous Portuguese writer. Fernando Pessoa Fernando António Nogueira Pessoa (pron. ...


Nomenclature

The ISO 4217 code of the escudo was PTE. Its symbol was the cifrão (mathrm{S}!!!Vert ), similar to the dollar sign.Amounts in escudos were written as escudosmathrm{S}!!!Vert centavos with the cifrão as the decimal separator (e.g. 25mathrm{S}!!!Vert 00 means 25 escudos, 100mathrm{S}!!!Vert 50 means 100 escudos and 50 centavos). Because of the conversion rate of 1000 réis = 1 escudo, three decimal places were initially used (one escudo = 1mathrm{S}!!!Vert 000). The term mil reis remained a colloquial synonym of "escudo" up to the 1990s. A thousand escudos (previously one million réis) was called "conto de reis". Interestingly, this unit abolished, almost a hundred years ago, is still in use (though declining), at the rate 5€ = 1 conto de reis (an approximation to the actual rate of 4.98798€ = 1 conto). This easy conversion was partly to blame for the increases in some low-denomination prices following the euro changeover. ISO 4217 is the international standard describing three letter codes (also known as the currency code) to define the names of currencies established by the International Organization for Standardization (ISO). ... Cifrão is the symbol of the former portuguese currency (Escudo ISO 4217 PTE Escudo of Cap Verde CVE and Easttimor-Escudo, that was in use till 1976 (TPE). ... It has been suggested that the section The dollar symbol from the article United States dollar be merged into this article or section. ... The 1990s decade refers to the years from 1990 to 1999, inclusive. ...


External link

  • Overview of the Portuguese escudo from the BBC
Preceded by:
Portuguese real
Portuguese currency
1911-2002
Succeeded by:
Euro


The real (plural réis) was the unit of currency in Portugal until 1911. ... 1911 (MCMXI) was a common year starting on Sunday (click on link for calendar). ... For the Cusco album, see 2002 (album). ... The euro (plural euro, symbol: €; banking code: EUR) is the official currency of the European Union and single currency for over 300 million Europeans in the following twelve European Union member states: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain; collectively also known as...

Pre-euro and other EU currencies EU Flag
Eurozone Austrian schilling | Belgian franc | Dutch gulden | Finnish markka | French franc | German mark | Greek drachma | Irish pound | Italian lira | Luxembourgian franc | Portuguese escudo | San Marinese lira | Spanish peseta | Vatican lira
ERM Cypriot pound | Danish krone | Estonian kroon | Latvian lats | Lithuanian litas | Maltese lira | Slovak koruna | Slovenian tolar
Other EU British pound | Czech koruna | Hungarian forint | Polish złoty | Swedish krona

  Results from FactBites:
 
Escudo - Search Results - ninemsn Encarta (185 words)
The Cape Verde escudo consists of 100 centavos.
The latter replaced the Angolan escudo in 1977 and was subject to...
The escudo was the official currency of Portugal prior to the introduction of the euro on 1 January 1999 and was removed from circulation on 28 February 2002.
Portuguese escudo - Wikipedia, the free encyclopedia (324 words)
The escudo was the official currency of Portugal prior to the introduction of the euro in 1 January 1999 (euro coins and notes were not introduced until 2002).
Prior to elimination of local currencies and at the time of conversion, the exchange rate was 200.482 escudos to one euro.
Overview of the Portuguese escudo from the BBC
  More results at FactBites »

 
 

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