Portugal and the euro
04 February 2008by eub2 -- last modified 04 February 2008
Portugal joined the European Union in 1986 and was one of the first-wave EU countries to adopt the euro on 1 January 1999.
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Portugal at a glance
Surface area: 91 910 km2
Population: 10 599 095 (Eurostat 2007, provisional figure)
Joined the European Union: 1 January 1986
Currency: Euro since 1 January 1999 (formerly Portuguese escudo, PTE)
Euro information
Status: Euro-area member since 1 January 1999.
Fixed conversion rate: €1 = 200.482 PTE
Adoption of the euro: The euro banknotes and coins
were introduced in Portugal on 1 January 2002, after a transitional
period of three years when the euro was the official currency but only
existed as 'book money'. The dual circulation period – when both the
Portuguese escudo and the euro had legal tender status – ended on 28
February 2002.
Exchange of former national currency: The Banco de Portugal (Central Bank of Portugal) exchanged escudo coins until 31 December 2002 and will continue to exchange escudo banknotes until 28 February 2022.
Documents and publications
-
Documents from the euro changeover, as well as the 2002 information campaign, are available on the Bank of Portugal website
Opinion polls and surveys
-
Public opinion and the single currency (Eurobarometer website)
Websites
Euro websites
- Euro on the Bank of Portugal site (also in English)
-
Archived websites on the euro
Institutions
- Banco de Portugal (Bank of Portugal, also in English)
- Ministério das Finanças e da Administração Pública (Ministry of Finance and Public Administration, also in English)
-
Imprensa Nacional – Casa da Moeda (Portuguese Mint, in Portuguese only)
Business
- Euro Info Centres Portugal
-
Associação Portuguesa de Bancos (Portuguese Bankers Association)
Consumers
- Associação Portuguesa para a Defesa do Consumidor, DECO (Portuguese Association for Consumer Protection)
Source: European Commission