Basic Country Data:
Country ISO Code: PT
Official Language: Portuguese
Language ISO Code: pt
Current Official Currency: Euro
Current Currency ISO Code: EUR

Medieval Dinheiro — Historical Currency

Singular Name: dinheiro
Plural Name: dinheiros
Monetary Subdivision: 12 dinheiros = 1 soldo; 20 soldos = 1 libra (libra was a unit of account)
Initial Production Date: late 12th century (reign of King Afonso Henriques)
Final Production Date: circa 1502
Historical Context:

• First Portuguese currency, based on the Roman system.

• Coins made of billon, used alongside Byzantine and Moorish coins.

• Introduction of coins like mealha (½ dinheiro), morabitino (gold), tornês (silver), dobra (gold), real (silver) during 13th and 14th centuries.

Portuguese Real — Historical Currency

Singular Name: real
Plural Name: réis
Monetary Subdivision: 1 real = 100 centavos (in later periods)
Initial Production Date: 14th century (introduced by King João I)
Final Production Date: 1911
Historical Context:

• Unit of account and currency for over four centuries.

• Terms like “mil réis” (thousand réis = 1 conto) used colloquially until the 20th century.

• Various monetary reforms and coins in gold, silver, and copper over time.

Portuguese Escudo — Modern Historical Currency

ISO Code: PTE (not official, as Portugal used escudo before euro)
Singular Name: escudo
Plural Name: escudos
Monetary Subdivision: 1 escudo = 100 centavos
Initial Production Date: 1911
Final Production Date: 2002
Initial Circulation Date: 1911
Final Circulation Date: February 28, 2002
Mint: Casa da Moeda de Portugal
Issuing Bank: Banco de Portugal
Coin Denominations: 1, 2, 5, 10, 20, 50 centavos; 1, 2, 5, 10, 20 escudos
Banknote Denominations: 10, 20, 50, 100, 200, 500, 1000 escudos
Designs / Symbols:

• “Escudo” means “shield” (symbol of protection).

• Coins and notes featured coats of arms, historical figures, and national symbols.
  Economic Historical Context:

• Replaced the real after the 1910 revolution.

• Value fluctuated with crises and wars, with fixed rates against pounds and dollars in different periods.

• Centavos lost value due to inflation in the 20th century.

• Replaced by the euro in 2002, with conversion rate 200.482 escudos = 1 euro.

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: Casa da Moeda de Portugal and other Eurozone mints
Issuing Bank: European Central Bank and Banco de Portugal
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 feature the European common side and the national side with Portuguese symbols such as the national coat of arms, King Afonso Henriques, and the Discoveries’ monument.

• Banknotes follow the European standard design with architectural motifs and no national images.
  Economic Historical Context:

• Euro adoption strengthened economic integration with the European Union and stabilized the currency.

• Gradual transition from 1999 to 2002, with full withdrawal of escudo in 2002.
  Current Circulation Status: active and widely used in Portugal
  Issuing Authority: European Central Bank and Banco de Portugal
  Relevant Legislation: European Union treaties, European Central Bank regulations, Portuguese national legislation

This report presents the historical evolution of currency in Portugal from medieval dinheiro, through the real and escudo, to the adoption of the euro as the current official currency, including details on denominations, symbols, and economic context.