PORTUGUESE ESCUDO Meaning and
Definition
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The Portuguese Escudo is the former currency unit of Portugal, which was in circulation from 1911 until it was replaced by the Euro in 2002. It is abbreviated as PTE or simply Escudo. The escudo was introduced as the official currency following the establishment of the Portuguese Republic in 1910.
The Portuguese Escudo was subdivided into 100 centavos and was represented by the symbol "$" or the abbreviation "Esc." The currency underwent various reforms during its existence, including decimalization in 1919, when it replaced the previous Portuguese Reis as the main unit of currency.
Throughout its history, the Portuguese Escudo experienced fluctuations in value and underwent several devaluations due to economic conditions and fiscal policies. These changes affected both domestic and international trade and played a significant role in shaping the financial landscape of Portugal during the 20th century.
The Euro replaced the Portuguese Escudo as the official currency of Portugal in 2002, following the country's entry into the Eurozone. The conversion rate between the Euro and the Escudo was set at 1 Euro to 200.482 Escudos. Today, the Portuguese Escudo is no longer in circulation and can only be found as a historical relic or a collector's item.
Common Misspellings for PORTUGUESE ESCUDO
- oortuguese escudo
- lortuguese escudo
- -ortuguese escudo
- 0ortuguese escudo
- pirtuguese escudo
- pkrtuguese escudo
- plrtuguese escudo
- pprtuguese escudo
- p0rtuguese escudo
- p9rtuguese escudo
- poetuguese escudo
- podtuguese escudo
- poftuguese escudo
- pottuguese escudo
- po5tuguese escudo
- po4tuguese escudo
- porruguese escudo
- porfuguese escudo
- porguguese escudo
Etymology of PORTUGUESE ESCUDO
The term "Portuguese Escudo" has its etymology rooted in the currency system of Portugal. The word "escudo" originates from the Latin word "scutum", which means shield. The use of "escudo" to refer to a monetary unit can be traced back to medieval times when coins would often have a shield depicted on them.
Portugal used the escudo as its currency from 1911 until 2002 when it adopted the euro. The term "Portuguese Escudo" thus refers to the specific currency used in Portugal during that time period.
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