The euro replaced Portugal’s escudo when Portugal joined the euro area.
Portugal adopted the euro for electronic and accounting purposes in 1999, followed by euro banknotes and coins in 2002. The escudo had been Portugal’s currency since 1911, when it replaced the real after the establishment of the Portuguese Republic.
Portugal was one of the original 11 countries to launch the euro in 1999. Euro cash was introduced across participating countries on 1 January 2002, creating a shared currency for everyday transactions.
The euro is issued within the Eurosystem, which consists of the European Central Bank and the national central banks of euro-area countries. Euro coins have a common European side and a national side, so Portuguese euro coins carry designs specific to Portugal.