Basic Country Data:

• Country ISO Code: PT

• Official Language: Portuguese

• Language ISO Code: pt

• Current Official Currency: Euro

• Current Currency ISO Code: EUR

Euro (EUR) — Current Official Currency

• ISO Code: EUR

• Singular Name: euro

• Plural Name: euros

• Monetary Subdivision: 1 euro = 100 cents

• Subdivision Name Singular: cent

• Subdivision Name Plural: cents

• Initial Production Date: 1999 (electronic), 2002 (physical)

• Initial Circulation Date in Portugal: January 1, 2002

• Final Production Date: ongoing

• Final Circulation Date: currently in circulation

• Mint: various European mints, including the Portuguese Mint (Imprensa Nacional-Casa da Moeda)

• Issuing Bank: European Central Bank (ECB)

• Coin Denominations: 1, 2, 5, 10, 20, 50 cents; 1 and 2 euros

• Banknote Denominations: 5, 10, 20, 50, 100, 200, 500 euros (500 euro note no longer issued since 2019)

• Designs / Symbols:

  • Coins: common European side and national side with Portuguese symbols, such as castles and shields inspired by the seals of Portugal’s first king, Afonso Henriques, including five shields and seven castles arranged around the border on the 2 euro coin.

  • Banknotes: European architectural motifs (bridges, doors, windows), no depiction of real persons.

• Economic Historical Context:

  • The euro was introduced in Portugal in 1999 for electronic transactions and became physical currency in 2002, replacing the Portuguese escudo, which had been used for decades.

  • The fixed conversion rate was 1 euro = 200.482 Portuguese escudos.

  • Adoption of the euro facilitated trade, tourism, and economic integration with the European Union.

• Mint Locations: coins produced at various European mints, including the Portuguese Mint.

• Mintages / Commemoratives:

  • Portuguese euro coins feature national historical symbols, reinforcing cultural identity within the unified currency.

• Curiosities / Commemorative Coins:

  • The winner of the national contest for coin designs was Vítor Manuel Fernandes dos Santos.

  • The 1 and 2 euro coins display castles and shields of Portugal, surrounded by the 12 stars of the European Union flag, symbolizing dialogue and European unity.

• Current Circulation Status: active and widely used throughout the country.

• Issuing Authority: European Central Bank, in coordination with the Bank of Portugal.

• Relevant Legislation: European Union treaties, ECB regulations, and Portuguese national legislation.

• Signatories on Banknotes: President and Vice-President of the European Central Bank.

• Persons Honored on Coins and Banknotes: Portuguese national symbols, no portraits of real persons.

This report provides a complete financial history of Portugal, highlighting the transition from the Portuguese escudo to the euro in 2002, the characteristics of coins and banknotes, historical context, and current status of the official currency.