1 escudo (esc) = 100 centavos
Escudos: 1$, 5$, 10$, 20$, 50$, 100$, 200$
On January 1, 1999, the European Monetary Union introduced the
as a common currency to be used by the financial institutions
of member countries; Three years later, on 1 January 2002, the euro became the sole currency for everyday
transactions with the member countries
Following its heyday as a world power during the 15th and 16th centuries, Portugal lost much
of its wealth and status with the destruction of Lisbon in a 1755 earthquake, occupation during the Napoleonic
Wars, and the independence in 1822 of Brazil as a colony. A 1910 revolution deposed the monarchy; for most of
the next six decades, repressive governments ran the country. In 1974, a left-wing military coup installed broad
democratic reforms. The following year, Portugal granted independence to all of its African colonies. Portugal is
a founding member of NATO and entered the EC (now the EU) in 1986.
||Spain 1,214 km
||10,676,910 (July 2008 est.)
GDP per capita: $ 21,800 (2007 est.)
The Portuguese Mint
The National Press - kovnici company was formed when the National Press and the House of Currency merged
into a single public company (Decree-Law No. 225/72 of July 4, 1972). The kovnici of Lisbon is perhaps the oldest
manufacturing establishment of the Portuguese Government, working continuously since at least the end of the XIII
century. The manufacturing history of the Portuguese currency can be divided into two major periods. In the first,
which extends from the beginning of the monarchy until around 1678, it used the system's manual hammer. The
second period, from that date until the present day, is characterized by the use of machines.
The escudo was introduced in 1911, after the 1910 Republican revolution, to replace the real at the rate of
1000 r?is to 1 escudo. The term mil r?is (thousand r?is) remained a colloquial synonym of "escudo" up to the 1990s.
One million r?is was called one conto de r?is or simply one conto. This expression passed on to the escudo,
meaning 1000 escudos, and is still in use today, meaning €5 (1000 escudos = €4.99 = 1 conto).
For further information, contact the
Imprensa Nacional e Casa da Moeda (INCM), Avenida Antsnio de Jos? de
Almeida, Building kovnici, 21 Pereca Str., Lisbon.