Difference between revisions of "Portuguese escudo"

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{{ref improve|date=March 2012}}
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{{refimprove|date=March 2012}}
 
{{Infobox Currency
 
{{Infobox Currency
 
| currency_name_in_local = Escudo português <small>{{pt icon}}</small>
 
| currency_name_in_local = Escudo português <small>{{pt icon}}</small>
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| euro_replace_non_cash = 1 January 1999
 
| euro_replace_non_cash = 1 January 1999
 
| euro_replace_cash = 1 January 2002
 
| euro_replace_cash = 1 January 2002
| ERM_fixed_rate = 200<math>\mathrm{S}\!\!\!\Vert</math>482
+
| ERM_fixed_rate = 200<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>482
 
| subunit_ratio_1 = 1/100
 
| subunit_ratio_1 = 1/100
 
| subunit_name_1 = [[centavo]]
 
| subunit_name_1 = [[centavo]]
| symbol = , <math>\mathrm{S}\!\!\!\Vert</math> or $ when not available
+
| symbol = [[File:Cifrão symbol.svg|15px]] (<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>; substituted with {{angbr|$}} when <span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">{{angbr|$}}</span> not available)
 
| plural = escudos
 
| plural = escudos
 
| plural_subunit_1 = centavos
 
| plural_subunit_1 = centavos
| used_coins =  1$, 5$, 10$, 20$, 50$, 100$, 200$
+
| used_coins =  1<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>, 5<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>, 10<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>, 20<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>, 50<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>, 100<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>, 200<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>
| used_banknotes = 500$, 1000$, 2000$, 5000$, 10&nbsp;000$
+
| used_banknotes = 500<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>, 1,000<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>, 2,000<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>, 5,000<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>, 10,000<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>
 
| issuing_authority = [[Banco de Portugal]]
 
| issuing_authority = [[Banco de Portugal]]
 
| issuing_authority_website = www.bportugal.pt
 
| issuing_authority_website = www.bportugal.pt
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| obsolete_notice = Y
 
| obsolete_notice = Y
 
}}
 
}}
The '''escudo''' ({{IPA-pt|ɨʃˈkudu}}, ''shield''; [[currency sign|sign]] [[]]:  or '''[[cifrão|<math>\mathrm{S}\!\!\!\Vert </math>]]'''<ref>Similar to the [[dollar sign]], but with two vertical strokes; also an 'E' with a long middle line and two vertical lines at the end.</ref>; [[ISO 4217|code]]: '''PTE''') was the [[currency]] of [[Portugal]] prior to the introduction of the [[Euro]] on 1 January 1999 and its removal from circulation on 28 February 2002.  The escudo was subdivided into 100 ''[[centavo]]s''.
+
The '''escudo''' ({{IPA-pt|ɨʃˈkudu}}, ''shield''; [[currency sign|sign]] '''[[cifrão|<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>]]''';<ref>Similar to the [[dollar sign]], but with two vertical strokes; also an 'E' with a long middle line and two vertical lines at the end.</ref> [[ISO 4217|code]]: '''PTE''') was the [[currency]] of [[Portugal]] prior to the introduction of the [[Euro]] on 1 January 1999 and its removal from circulation on 28 February 2002.  The escudo was subdivided into 100 ''[[centavo]]s''.
  
Amounts in escudos were written as ''escudos'' ''centavos'' with the ''[[cifrão]]'' as the decimal separator (e.g. ''25''$''00'' means 25, ''100''$''50'' means 100 and 50 centavos). Because of the conversion rate of 1000 réis = 1, three decimal places were initially used (1 = 1$000).
+
Amounts in escudos were written as ''escudos'' <span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span> ''centavos'' with the ''cifrão'' as the decimal separator (e.g. ''25<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>00'' means <span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>25.00, ''100<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>50'' means <span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>100.50). Because of the conversion rate of 1000 réis = <span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>1, three decimal places were initially used (<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>1 = 1<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>000).
  
 
==History==
 
==History==
The escudo was introduced on 22 May 1911, after the [[5 October 1910 revolution|1910 Republican revolution]], to replace the [[Portuguese real|real]] at the rate of 1,000 ''réis'' to 1 ''escudo''. The term ''mil réis'' (thousand ''réis'') remained a colloquial synonym of ''escudo'' up to the 1990s. One million ''réis'' was called one ''conto de réis'', or simply one ''conto''. This expression passed on to the escudo, meaning 1,000.
+
The escudo was introduced on 22 May 1911, after the [[5 October 1910 revolution|1910 Republican revolution]], to replace the [[Portuguese real|real]] at the rate of 1,000 ''réis'' to 1 ''escudo''. The term ''mil réis'' (thousand ''réis'') remained a colloquial synonym of ''escudo'' up to the 1990s. One million ''réis'' was called one ''conto de réis'', or simply one ''conto''. This expression passed on to the escudo, meaning <span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>1.000.
  
The escudo's value was initially set at 675$00 = 1 kg of gold.  After 1914, the value of the escudo fell, being fixed in 1928 at 108$25 to the pound{{clarify|date=May 2012|reason=Pound of gold? Pound sterling? Something else?}}.  This was altered to 110$00 to the pound in 1931. A new rate of 27$50 escudos to the [[U.S. dollar]] was established in 1940, changing to 25$00 in 1940 and 28$75 in 1949.
+
The escudo's value was initially set at 675<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>00 = 1&nbsp;kg of gold.  After 1914, the value of the escudo fell, being fixed in 1928 at 108<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>25 to the pound{{clarify|date=May 2012|reason=Pound of gold? Pound sterling? Something else?}}.  This was altered to 110<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>00 to the pound in 1931. A new rate of 27<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>50 escudos to the [[U.S. dollar]] was established in 1940, changing to 25<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>00 in 1940 and 28<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>75 in 1949.
  
[[Inflation]] throughout the 20th century made centavos essentially worthless by its end, with fractional value coins with values such as $50 or 2$50 eventually withdrawn from circulation in the 1990s. With the entry of Portugal in the [[Eurozone]], the conversion rate to the [[euro]] was set at 200$482 to €1.
+
[[Inflation]] throughout the 20th century made centavos essentially worthless by its end, with fractional value coins with values such as <span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>50 and 2<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>50 eventually withdrawn from circulation in the 1990s. With the entry of Portugal in the [[Eurozone]], the conversion rate to the [[euro]] was set at 200<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>482 to €1.
  
 
==Territorial usage==
 
==Territorial usage==
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==Coins==
 
==Coins==
 
[[File:PRT025.JPG|thumb|Portugal: 4 centavos 1917]]
 
[[File:PRT025.JPG|thumb|Portugal: 4 centavos 1917]]
[[Image:PRT007.JPG|thumb|0$50 of 1926]]
+
[[Image:PRT007.JPG|thumb|0<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>50 of 1926]]
[[Image:PRT023.JPG|thumb|5$00 of 1983]]
+
 
[[Image:Portogallo 200 escudos.JPG|thumb|200$00 of 1991]]
+
[[Image:Portogallo 200 escudos.JPG|thumb|200<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>00 of 1991]]
  
 
Between 1912 and 1916, silver 10, 20 and 50 centavos and 1 escudo coins were issued. Bronze 1 and 2 centavos and cupro-nickel 4 centavos were issued between 1917 and 1922.
 
Between 1912 and 1916, silver 10, 20 and 50 centavos and 1 escudo coins were issued. Bronze 1 and 2 centavos and cupro-nickel 4 centavos were issued between 1917 and 1922.
Line 57: Line 57:
  
 
[[Coin]]s in circulation at the time of the changeover to the euro were:
 
[[Coin]]s in circulation at the time of the changeover to the euro were:
*1 escudo (.50 cent)
+
*1 escudo (0.50 cent)
 
*5 escudos (2.49 cent)
 
*5 escudos (2.49 cent)
 
*10 escudos (4.99 cent)
 
*10 escudos (4.99 cent)
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Coins ceased to be exchangeable for euro on December 31, 2002.
 
Coins ceased to be exchangeable for euro on December 31, 2002.
  
Another name for the 50 centavos coin was ''coroa'' (crown). Long after the 50 centavos coins disappeared, people still called the 2$50 coins ''cinco coroas'' (five crowns).
+
Another name for the 50 centavos coin was ''coroa'' (crown). Long after the 50 centavos coins disappeared, people still called the 2<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>50 coins ''cinco coroas'' (five crowns).
  
Also, people still referred to escudos at the time of the changeover in multiples of the older currency ''real'' (plural ''reis''). Many people called the 2$50 coins ''dois e quinhentos'' (two and five-hundreds), referring to the correspondence 2$50 = 2500 reis. ''Tostão'' (plural ''tostões'') is yet another multiple of ''real'', with 1 ''tostão'' = 10 ''reis''.
+
Also, people still referred to escudos at the time of the changeover in multiples of the older currency ''real'' (plural ''reis''). Many people called the 2<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>50 coins ''dois e quinhentos'' (two and five-hundreds), referring to the correspondence 2<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>50 = 2500 reis. ''Tostão'' (plural ''tostões'') is yet another multiple of ''real'', with 1 ''tostão'' = 10 ''reis''.
  
 
==Banknotes==
 
==Banknotes==
 +
 +
[[File:Banknotes of Portugal 5000 Escudos banknote, Antero de Quental..jpg|thumb|Portugal 5000 Escudos banknote of 1987, Antero de Quental]]
 
The Casa da Moeda issued notes for 5, 10 and 20 centavos between 1917 and 1925 whilst, between 1913 and 1922, the [[Banco de Portugal]] introduced notes for 50 centavos, 1, 2½, 5, 10, 20, 50, 100, 500 and 1000 escudos. 50 centavos and 1 escudo notes ceased production in 1920, followed by 2½, 5 and 10 escudos in 1925 and 1926. 5000 escudos notes were introduced in 1942.
 
The Casa da Moeda issued notes for 5, 10 and 20 centavos between 1917 and 1925 whilst, between 1913 and 1922, the [[Banco de Portugal]] introduced notes for 50 centavos, 1, 2½, 5, 10, 20, 50, 100, 500 and 1000 escudos. 50 centavos and 1 escudo notes ceased production in 1920, followed by 2½, 5 and 10 escudos in 1925 and 1926. 5000 escudos notes were introduced in 1942.
  
The last 20 and 50 escudos notes were printed dated 1978 and 1980, respectively, with 100 escudos notes being replaced by coins in 1989, the same year that 10,000 escudos notes were introduced
+
The last 20 and 50 escudos notes were printed dated 1978 and 1980, respectively, with 100 escudos notes being replaced by coins in 1989, the same year that 10,000-escudo notes were introduced
  
 
[[Banknote]]s in circulation at the time of the changeover to the euro were:
 
[[Banknote]]s in circulation at the time of the changeover to the euro were:
Line 83: Line 85:
 
Banknotes can still be returned to the central bank [[Banco de Portugal]] and converted to euros until 28 February 2022.
 
Banknotes can still be returned to the central bank [[Banco de Portugal]] and converted to euros until 28 February 2022.
  
Escudo banknotes celebrated notable figures from the [[History of Portugal]]. The final banknote series featured the [[Portugal in the Age of Discovery|Age of Discovery]], with [[João de Barros]], [[Pedro Álvares Cabral]], [[Bartolomeu Dias]], [[Vasco da Gama]], and [[Henry the Navigator]].
+
Escudo banknotes celebrated notable figures from the [[history of Portugal]]. The final banknote series featured the [[Portugal in the Age of Discovery|Age of Discovery]], with [[João de Barros]], [[Pedro Álvares Cabral]], [[Bartolomeu Dias]], [[Vasco da Gama]], and [[Henry the Navigator]].
  
The last 100-escudo Banknote represented [[Fernando Pessoa]], the famous Portuguese writer.
+
The last 100-escudo banknote represented [[Fernando Pessoa]], the famous Portuguese writer and poet.
  
 +
{|class="wikitable" style="font-size: 90%"
 +
|-
 +
!colspan="5"| Banknotes of the Portuguese escudo (1995–2000 "Portuguese Seafarers & Explorers" Issue)
 +
|-
 +
! Image !! Value !! Equivalent in [[Euro|Euro (€)]] !! Main Color !! Obverse !! Reverse !! Watermark
 +
|-
 +
| [http://banknote.ws/COLLECTION/countries/EUR/POR/POR0187.htm]
 +
| 500 escudos
 +
| €2.49
 +
| Violet and brown
 +
| [[João de Barros]]
 +
| Allegory of the [[Portugal in the Age of Discovery|Age of Discovery]]
 +
| João de Barros
 +
|-
 +
| [http://banknote.ws/COLLECTION/countries/EUR/POR/POR0188.htm]
 +
| 1000 escudos
 +
| €4.99
 +
| Purple and brown
 +
| [[Pedro Álvares Cabral]]
 +
| Sailing ship, animals of Brazil
 +
| Pedro Álvares Cabral
 +
|-
 +
| [http://banknote.ws/COLLECTION/countries/EUR/POR/POR0189.htm]
 +
| 2000 escudos
 +
| €9.98
 +
| Blue-violet and deep blue-green
 +
| [[Bartolomeu Dias]]; Cruzado coin of [[João II|Dom João II]]
 +
| Sailing ship, compass card, map
 +
| Bartolomeu Dias
 +
|-
 +
| [http://banknote.ws/COLLECTION/countries/EUR/POR/POR0190.htm]
 +
| 5000 escudos
 +
| €24.94
 +
| Deep olive-green and brown-violet
 +
| [[Vasco da Gama]]
 +
| Sailing ship, Vasco da Gama with authorities in Calcutta
 +
| Vasco de Gama
 +
|-
 +
| [http://banknote.ws/COLLECTION/countries/EUR/POR/POR0191.htm]
 +
| 10,000 escudos
 +
| €49.88
 +
| Violet and dark brown
 +
| [[Henry the Navigator|Henry the Navigator (Infante Dom Henrique)]]
 +
| Sailing ship
 +
| Henry the Navigator (Infante Dom Henrique)
 +
|-
 +
|}
  
 
==Colloquial expressions==
 
==Colloquial expressions==
  
"Conto" was the unofficial multiple of the escudo: 1 conto meant 1000$00, 2 contos meant 2000$00 and so on.
+
"Conto" was the unofficial multiple of the escudo: 1 conto meant 1,000<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>00, 2 contos meant 2,000<span style="font-family:Bodoni MT, Big Caslon, Garamond, Baskerville, Brush Script MT">$</span>00 and so on.
The original expression was "conto de réis", which meant "one million réis". Since the escudo was worth 1000 réis (the older currency), therefore one "conto" was the same as a thousand escudos. The expression remained in usage after the advent of th euro, albeit less often, meaning €5, roughly worth 1000 escudos.
+
The original expression was "conto de réis", which meant "one million réis". Since the escudo was worth 1000 réis (the older currency), therefore one "conto" was the same as a thousand escudos. The expression remained in usage after the advent of the euro, albeit less often, meaning €5, roughly worth 1000 escudos.
  
 
==See also==
 
==See also==
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==External links==
 
==External links==
 
 
*[http://news.bbc.co.uk/hi/english/static/in_depth/business/2001/euro_cash/spent_currencies/escudo.stm Overview of the Portuguese escudo from the BBC]
 
*[http://news.bbc.co.uk/hi/english/static/in_depth/business/2001/euro_cash/spent_currencies/escudo.stm Overview of the Portuguese escudo from the BBC]
 
* [http://colnect.com/en/coins/list/country/2279/sort/by_catalog_code/name/escudos Portuguese escudo coins]
 
* [http://colnect.com/en/coins/list/country/2279/sort/by_catalog_code/name/escudos Portuguese escudo coins]
  
{{start box}}
+
{{s-start}}
 
{{succession box|title=[[Portugal|Portuguese]] currency|before=[[Portuguese real]]|after=[[Euro]]|years=1911-1999{{ref|1999|1}}}}
 
{{succession box|title=[[Portugal|Portuguese]] currency|before=[[Portuguese real]]|after=[[Euro]]|years=1911-1999{{ref|1999|1}}}}
{{end box}}
+
{{s-end}}
 
<small>
 
<small>
 
#{{note|1999}} 1999 by law, 2002 de facto.
 
#{{note|1999}} 1999 by law, 2002 de facto.
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[[Category:Economic history of Portugal]]
 
[[Category:Economic history of Portugal]]
 
[[Category:1911 establishments in Portugal]]
 
[[Category:1911 establishments in Portugal]]
 
[[ca:Escut portuguès]]
 
[[cs:Portugalské escudo]]
 
[[de:Portugiesischer Escudo]]
 
[[es:Escudo portugués]]
 
[[eo:Portugala eskudo]]
 
[[eu:Portugaldar ezkutu]]
 
[[fr:Escudo portugais]]
 
[[gl:Escudo portugués]]
 
[[ko:포르투갈 이스쿠두]]
 
[[is:Portúgalskur skúti]]
 
[[it:Escudo portoghese]]
 
[[he:אסקודו (מטבע)]]
 
[[lt:Portugalijos eskudas]]
 
[[nl:Portugese escudo]]
 
[[ja:ポルトガル・エスクード]]
 
[[pl:Escudo portugalskie]]
 
[[pt:Escudo português]]
 
[[ro:Escudo portughez]]
 
[[rue:Портуґальске ескудо]]
 
[[ru:Португальский эскудо]]
 
[[sk:Portugalské escudo]]
 
[[sl:Portugalski eskudo]]
 
[[fi:Portugalin escudo]]
 
[[tr:Portekiz esküdosu]]
 
[[uk:Португальське ескудо]]
 
[[zh:葡萄牙士姑度]]
 

Latest revision as of 00:15, 16 January 2014

{{ safesubst:#invoke:Unsubst||$N=Refimprove |date=__DATE__ |$B= {{#invoke:Message box|ambox}} }} Template:Infobox Currency The escudo (Template:IPA-pt, shield; sign $;[1] code: PTE) was the currency of Portugal prior to the introduction of the Euro on 1 January 1999 and its removal from circulation on 28 February 2002. The escudo was subdivided into 100 centavos.

Amounts in escudos were written as escudos $ centavos with the cifrão as the decimal separator (e.g. 25$00 means $25.00, 100$50 means $100.50). Because of the conversion rate of 1000 réis = $1, three decimal places were initially used ($1 = 1$000).

History

The escudo was introduced on 22 May 1911, after the 1910 Republican revolution, to replace the real at the rate of 1,000 réis to 1 escudo. The term mil réis (thousand réis) remained a colloquial synonym of escudo up to the 1990s. One million réis was called one conto de réis, or simply one conto. This expression passed on to the escudo, meaning $1.000.

The escudo's value was initially set at 675$00 = 1 kg of gold. After 1914, the value of the escudo fell, being fixed in 1928 at 108$25 to the poundTemplate:Clarify. This was altered to 110$00 to the pound in 1931. A new rate of 27$50 escudos to the U.S. dollar was established in 1940, changing to 25$00 in 1940 and 28$75 in 1949.

Inflation throughout the 20th century made centavos essentially worthless by its end, with fractional value coins with values such as $50 and 2$50 eventually withdrawn from circulation in the 1990s. With the entry of Portugal in the Eurozone, the conversion rate to the euro was set at 200$482 to €1.

Territorial usage

The escudo was used in the Portuguese mainland, the Azores and Madeira, with no distinction of coins or banknotes. In Portugal's African colonies, the escudo was generally used up to independence, with Portuguese and sometime local coins circulating alongside banknotes of the Banco Nacional Ultramarino, rather than those of the Bank of Portugal used on the mainland. For more details, see the escudos of Angola, Cape Verde, Mozambique, Portuguese Guinea and São Tomé and Príncipe. Only Cape Verde continues use the escudo. In Macau, the currency during the colonial period was, as it is today, the pataca. Timor-Leste adopted the escudo whilst still a Portuguese colony, having earlier used the pataca. Portuguese India adopted the escudo before it was annexed by India.

Coins

Portugal: 4 centavos 1917
0$50 of 1926
200$00 of 1991

Between 1912 and 1916, silver 10, 20 and 50 centavos and 1 escudo coins were issued. Bronze 1 and 2 centavos and cupro-nickel 4 centavos were issued between 1917 and 1922.

In 1920, bronze 5 centavos and cupro-nickel 10 and 20 centavos were introduced, followed, in 1924, by bronze 10 and 20 centavos and aluminium bronze 50 centavos and 1 escudo. Aluminium bronze was replaced with cupro-nickel in 1927.

In 1932, silver coins were introduced for 2½, 5 and 10 escudos. The 2½ and 5 escudos were minted until 1951, with the 10 escudos minted until 1955 with a reduced silver content. In 1963, cupro-nickel 2½ and 5 escudos were introduced, followed by aluminium 10 centavos, bronze 20 and 50 centavos and 1 escudo in 1969. Cupro-nickel 10 and 25 escudos were introduced in 1971 and 1977, respectively. In 1986, a new coinage was introduced which circulated until replacement by the euro. It consisted of nickel-brass 1, 5 and 10 escudos, cupro-nickel 20 and 50 escudos, with bimetallic 100 and 200 escudos introduced in 1989 and 1991.

Coins in circulation at the time of the changeover to the euro were:

  • 1 escudo (0.50 cent)
  • 5 escudos (2.49 cent)
  • 10 escudos (4.99 cent)
  • 20 escudos (9.98 cent)
  • 50 escudos (24.94 cent)
  • 100 escudos (49.88 cent)
  • 200 escudos (99.76 cent)

Coins ceased to be exchangeable for euro on December 31, 2002.

Another name for the 50 centavos coin was coroa (crown). Long after the 50 centavos coins disappeared, people still called the 2$50 coins cinco coroas (five crowns).

Also, people still referred to escudos at the time of the changeover in multiples of the older currency real (plural reis). Many people called the 2$50 coins dois e quinhentos (two and five-hundreds), referring to the correspondence 2$50 = 2500 reis. Tostão (plural tostões) is yet another multiple of real, with 1 tostão = 10 reis.

Banknotes

File:Banknotes of Portugal 5000 Escudos banknote, Antero de Quental..jpg
Portugal 5000 Escudos banknote of 1987, Antero de Quental

The Casa da Moeda issued notes for 5, 10 and 20 centavos between 1917 and 1925 whilst, between 1913 and 1922, the Banco de Portugal introduced notes for 50 centavos, 1, 2½, 5, 10, 20, 50, 100, 500 and 1000 escudos. 50 centavos and 1 escudo notes ceased production in 1920, followed by 2½, 5 and 10 escudos in 1925 and 1926. 5000 escudos notes were introduced in 1942.

The last 20 and 50 escudos notes were printed dated 1978 and 1980, respectively, with 100 escudos notes being replaced by coins in 1989, the same year that 10,000-escudo notes were introduced

Banknotes in circulation at the time of the changeover to the euro were:

  • 500 escudos (€2.49)
  • 1000 escudos (€4.99)
  • 2000 escudos (€9.98)
  • 5000 escudos (€24.94)
  • 10,000 escudos (€49.88)

Banknotes can still be returned to the central bank Banco de Portugal and converted to euros until 28 February 2022.

Escudo banknotes celebrated notable figures from the history of Portugal. The final banknote series featured the Age of Discovery, with João de Barros, Pedro Álvares Cabral, Bartolomeu Dias, Vasco da Gama, and Henry the Navigator.

The last 100-escudo banknote represented Fernando Pessoa, the famous Portuguese writer and poet.

Banknotes of the Portuguese escudo (1995–2000 "Portuguese Seafarers & Explorers" Issue)
Image Value Equivalent in Euro (€) Main Color Obverse Reverse Watermark
[1] 500 escudos €2.49 Violet and brown João de Barros Allegory of the Age of Discovery João de Barros
[2] 1000 escudos €4.99 Purple and brown Pedro Álvares Cabral Sailing ship, animals of Brazil Pedro Álvares Cabral
[3] 2000 escudos €9.98 Blue-violet and deep blue-green Bartolomeu Dias; Cruzado coin of Dom João II Sailing ship, compass card, map Bartolomeu Dias
[4] 5000 escudos €24.94 Deep olive-green and brown-violet Vasco da Gama Sailing ship, Vasco da Gama with authorities in Calcutta Vasco de Gama
[5] 10,000 escudos €49.88 Violet and dark brown Henry the Navigator (Infante Dom Henrique) Sailing ship Henry the Navigator (Infante Dom Henrique)

Colloquial expressions

"Conto" was the unofficial multiple of the escudo: 1 conto meant 1,000$00, 2 contos meant 2,000$00 and so on. The original expression was "conto de réis", which meant "one million réis". Since the escudo was worth 1000 réis (the older currency), therefore one "conto" was the same as a thousand escudos. The expression remained in usage after the advent of the euro, albeit less often, meaning €5, roughly worth 1000 escudos.

See also

References

  1. Similar to the dollar sign, but with two vertical strokes; also an 'E' with a long middle line and two vertical lines at the end.

External links

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  1. ^ 1999 by law, 2002 de facto.

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