PTE · PTE
Portuguese escudo (PTE)
The Portuguese Escudo was Portugal's currency from 1911 until the adoption of the euro in 2002. Learn about its history, coins, and banknotes.
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PTE · Portuguese escudo
Portuguese Escudo (PTE): History and Legacy
The Portuguese Escudo (PTE) served as the official currency of Portugal for over nine decades, from its introduction in 1911 following the fall of the monarchy to its replacement by the euro in 2002. The currency was subdivided into 100 centavos and underwent several monetary reforms, including a period of high inflation in the 1970s and 1980s. The escudo's symbol was the dollar sign crossed by two vertical bars (Cifrão), reflecting its historical connection to the Spanish dollar.
Throughout its existence, the escudo witnessed significant economic and political changes, including the Estado Novo regime, the Carnation Revolution in 1974, and Portugal's entry into the European Economic Community in 1986. The currency was issued by the Banco de Portugal, with banknotes featuring prominent Portuguese figures such as explorers, writers, and scientists. Coins ranged from 1 to 200 escudos, with designs that evolved to reflect the nation's heritage and modern identity.
In 1999, Portugal became a founding member of the eurozone, and the escudo was fixed to the euro at a rate of 200.482 escudos per euro. The transition to euro banknotes and coins was completed in 2002, marking the end of the escudo's legal tender status. Today, the escudo remains a nostalgic symbol for many Portuguese, and old coins and banknotes can still be exchanged at the Banco de Portugal. This page provides a factual overview of the escudo's history, denominations, and legacy.
- Code
- PTE
- Symbol
- PTE
- Current rate
- USD / PTE
Currency information
Last updated · 8/7/2026
Introduced on 22 May 1911, replacing the Portuguese real at a rate of 1 escudo = 1000 réis.
- Official name
- Portuguese escudo
- Legal tender status
- Withdrawn
- Decimal places
- 2
- Minor unit
- centavo · 1 PTE = 100 centavo
- Countries
- Portugal
- Issuing authority
- Banco de Portugal
- Central bank
- Banco de Portugal · Official website
- Exchange-rate regime
- Fixed to the euro at 200.482 escudos per euro from 1 January 1999.
Common banknotes
100 escudos · 200 escudos · 500 escudos · 1000 escudos · 2000 escudos · 5000 escudos · 10000 escudos
Common coins
1 escudo · 5 escudos · 10 escudos · 20 escudos · 50 escudos · 100 escudos · 200 escudos
Also known as
escudo · Portuguese escudo · PTE · Esc
Practical notes
- The escudo was subdivided into 100 centavos.
- Banknotes and coins were issued by the Banco de Portugal.
- The escudo was replaced by the euro in 2002.
Priority currency pairs
The most useful conversions for this currency.
Portuguese escudo questions
What is the PTE exchange rate?
The displayed rate is the latest available reference rate for USD/PTE. It can change throughout the day.
How can I convert PTE online?
Use the converter above to calculate indicative amounts between PTE and the other supported currencies.