Escudo (Portuguese Timor)
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Coin set from 1970 (front and back)
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The escudo ( TPE ) was the currency in the Portuguese Timor colony between 1959 and 1976. It was divided into 100 centavos . He replaced the pataca there . One pataca was exchanged for 5.6 escudos. The Timorese escudo was equivalent to the Portuguese escudo .
When the colony declared itself independent as East Timor in 1975 , there was no time to introduce its own currency, as Indonesia occupied the country just nine days later and incorporated it into its territory in 1976. After that, the Indonesian rupiah became valid currency.
The first coins are dated 1958. They were available at ten, 30 and 60 centavos and one, three and six escudos. The first banknotes with values of 30, 60, 100 and 500 escudos followed in 1959. The unusual graduation is derived from the exchange rate to the old Pataca. Later coins of 20 and 50 centavos and two and a half, five and ten escudos and banknotes of 20, 50 and 1000 escudos were introduced. The banknotes were issued by the Banco Nacional Ultramarino .
See also
Web links
- Banknotes ( Memento from May 2, 2009 in the Internet Archive )