What is the central bank of Portugal, founded in 1846 as the Banco de Portugal?

Banco de Portugal is Portugal’s central bank, founded in 1846 as the Banco de Portugal.

The institution was established on 19 November 1846 through the merger of the Banco de Lisboa and the Companhia Confiança Nacional. It initially operated as a commercial and note-issuing bank before gradually acquiring the functions associated with a modern central bank. Its headquarters are in Lisbon.

Banco de Portugal is now part of the Eurosystem. It contributes to euro-area monetary policy, manages Portugal’s official reserves, supervises financial institutions and supports the stability of the Portuguese financial system.

Portugal’s central bank is sometimes confused with a national issuer of a separate currency. Portugal uses the euro, introduced in cash form in 2002, so Banco de Portugal’s banknote role is exercised within the shared Eurosystem framework.