The euro replaced Portugal’s old escudo as its currency in 2002.
Portugal was among the countries that adopted euro banknotes and coins when euro cash entered circulation on 1 January 2002. The escudo ceased to be Portugal’s everyday cash currency during the changeover, although the euro had already become the country’s official accounting currency in 1999.
Portugal is one of the European Union member states using the euro. Its euro coins have national designs featuring historic royal seals and castles, while the common side of each coin shows maps or European symbols. The European Central Bank and the national central banks of the Eurosystem share responsibility for euro cash issuance.
The euro was not introduced only in Portugal: twelve European countries launched euro cash together in 2002. A common mistake is saying that Portugal adopted the euro immediately upon joining the European Union; Portugal joined the European Communities in 1986, years before euro notes and coins appeared.