Portuguese escudo
| Portuguese escudo | |
|---|---|
| Country: |
 Portugal
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| Subdivision: | 100 centavos |
| ISO 4217 code : | PTE |
| Abbreviation: | $, Esc |
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Exchange rate : (fixed) |
1 EUR = 200.482 PTE |
The Portuguese Escudo , shortly also Escudo (German: Shield ), was the currency of Portugal prior to the introduction of the euro . The ISO 4217 code is PTE.
history
The escudo was used by the Portuguese since 1914 and replaced the real that had previously been used for several centuries .
The escudo was divided into 100 centavos . Prices are quoted with the cifrão (graphically similar to the dollar sign , always written with two lines) between the numbers of the escudos and the centavos. For example, “25 $ 00” meant an amount of 25 escudos. Because of inflation , the Centavo coins had not been used for a long time when the changeover to the euro took place.
Larger amounts were usually given in Conto , an unofficial unit of account that corresponded to 1000 escudos. Due to the relatively simple exchange factor, the term Conto is still in use today, meaning five euros (rounded up slightly).
On January 1, 1999, the exchange rate to the euro was fixed at 200.482 escudos, on January 1, 2002 the escudo coins and notes were replaced by the euro. Coins are no longer exchanged. Bills can be exchanged until February 28, 2022.
Denomination
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Coin for 2.50 Escudo from 1951
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Before the introduction of the euro, the following nominal values were in circulation:
Coins
Coins: 1; 5; 10; 20; 50; 100; 200 escudos
Bills
Notes: 500; 1000; 2000; 5000; 10,000 escudos
Web links
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1 Monaco , San Marino and Vatican City are not part of the European Monetary Union , but mint their own euro coins to a limited extent due to bilateral agreements.