The first currency in Portugal was the "Dinheiro" from the 12th century to 1433, when gold coins were minted. The second currency was the "Real", introduced around 1430 at a rate of 1 Real = 840 Dinheiros. In 1910 after the Republic was established, Portugal adopted the "Escudo" as its third currency. Finally, in 2002 Portugal adopted the Euro as its fourth and current currency after joining the European Union in 1986.

1. The development of the
currency in Portugal
February 2016

2. The first currency in Portugal
The “Dinheiro” (money) was the currency
of Portugal since the end of the twelfth
century until the year 1433.
At the time of D. Afonso Henriques (1143-1185), first king of
Portugal, still circulating Roman coins (denários e áureos) and
Leonese and Muslim coins.
In response to Muslim gold coins, the Portuguese monarchy
coined the gold Morabitinos (Dinheiro).

3. The second currency in Portugal
“Real” (royal) was the name for the
second currency in Portugal.
The “Real” (plural: Reais), later
popularized as “Réis” (kings) was the
Portugal unit of currency from about 1430
to 1911.
It replaced the “Dinheiro” (money) at the
rate of 1 Real = 840 “dinheiros”.

4. The third currency in Portugal
After the currency “Réis", Portugal
began using another type of currency,
the “Escudo” (shield) when they
established the Republic (1910).
The symbol used was the “cifrão ($)”.
This was the third currency in Portugal
at a rate of 1000 réis = 1 escudo

5. The fourth currency in Portugal
Portugal is indeed a member of the European
Union since 1st January of 1986.
On 31st December of 2001, they fixed the
conversion rate between the Euro and the
“Escudo".
€1 = $200.482
On the 1st January of 2002, we start using the currency of
Euro, coins and bills. The “Escudo” can only be exchanged at
the bank.

6. Examples of the bills:
500 Réis, 500 Escudos and 500 Euros