Portuguese Escudo

Portuguese escudo
Escudo português  (Portuguese)
1 escudo (1993)
ISO 4217
Code	PTE
Denominations
Subunit
1⁄100	centavo
Plural	escudos
centavo	centavos
Symbol	($; substituted with ⟨$⟩ when ⟨$⟩ not available)
Banknotes	500$, 1,000$, 2,000$, 5,000$, 10,000$
Coins	1$, 5$, 10$, 20$, 50$, 100$, 200$
Demographics
User(s)	None, previously:  Portugal
Issuance
Central bank	Banco de Portugal
Website	www.bportugal.pt
Mint	Imprensa Nacional-Casa da Moeda
Website	www.incm.pt
Valuation
Inflation	2.8% (2000)
Source	worldpress.org
ERM
Since	19 June 1989
Fixed rate since	31 December 1998
Replaced by €, non cash	1 January 1999
Replaced by €, cash	1 January 2002
€ =	200$482
This infobox shows the latest status before this currency was rendered obsolete.

The escudo (Portuguese pronunciation: [ʃˈkud], shield; sign $;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).

Escudo gold coinage was initially introduced in 1722 with denominations including  ¹⁄₂ escudo, 2, 4, and 8 escudos, and were minted generally during the 18th century.

The escudo (non-gold) was again 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$.