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The official Portugal Currency, which was once Escudo, has been totally replaced by Euro since 2002. Euro is the official currency of some 13 European Union countries since it had been introduced and circulated in 1st January 2002. Portugal currency is a unit of exchange on which the entire economy of the country depends. It is the only medium of transaction.
Euro, now the official Portugal money came into existence in January 1, 1999. The individual national currencies of the 12 European Union countries were brought together and clubbed to form a single currency and named it Euro.
Banknote and Coins of Portugal Currency
There are currently 7 banknote denominations and 8 coin denominations being circulated in Portugal. The banknotes in circulation include 5, 10, 20, 50, 100, 200 and 500 Euro. The front side of the note features gateways and windows, whereas the reverse side features different bridges. The 8 coin denominations in Euro coins include 1, 2, 5, 10, 20 and 50 cents as well as 1 and 2 Euro.
The exchange rates of Portuguese currency differ in many banks according to the denominations. It varies because of the minimum charge that gets deducted. There are several currency exchange offices located all over the country in all the major cities and towns. For the convenience of tourists various hotels also provide money exchange facilities.
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