Portuguese Indian escudo
Encyclopedia
The escudo was the currency of Portuguese India
between 1958 and 1961. It was divisible into 100 centavo
s and was equal in value to the Portuguese escudo
.
at the rate of 1 rúpia = 6 escudos. This was due to the respective values of the Indian rupee
(to which the rúpia was pegged) and the Portuguese escudo, with 1 rupee = 18 British pence and 1 escudo = 3 pence. After Portuguese India
was annexed by the Republic of India in 1961, the escudo was replaced by the Indian rupee
.
in denominations of 30, 60, 100, 300, 600 and 1000 escudos.
Portuguese India
The Portuguese Viceroyalty of India , later the Portuguese State of India , was the aggregate of Portugal's colonial holdings in India.The government started in 1505, six years after the discovery of a sea route to India by Vasco da Gama, with the nomination of the first Viceroy Francisco de...
between 1958 and 1961. It was divisible into 100 centavo
Centavo
Centavo is a Spanish and Portuguese word, derived from the Latin centum, meaning "one hundred", and the suffix -avo, meaning "portion" or "fraction"...
s and was equal in value to the Portuguese escudo
Portuguese escudo
The escudo was the currency of Portugal prior to the introduction of the Euro on 1 January 1999 and its removal from circulation on 28 February 2002. The escudo was subdivided into 100 centavos....
.
History
The escudo replaced the rúpiaPortuguese Indian rupia
From The rupia was the currency of Portuguese India until 1958.-History:Before 1871, the rupia was subdivided into 750 bazarucos, 600 réis , 20 pardaus or 10 tangas, with the xerafim worth 2 rupias. After 1871, 960 réis or 16 tangas equalled 1 rupia. The rupia was equal in value to the Indian rupee...
at the rate of 1 rúpia = 6 escudos. This was due to the respective values of the Indian rupee
Indian rupee
The Indian rupee is the official currency of the Republic of India. The issuance of the currency is controlled by the Reserve Bank of India....
(to which the rúpia was pegged) and the Portuguese escudo, with 1 rupee = 18 British pence and 1 escudo = 3 pence. After Portuguese India
Portuguese India
The Portuguese Viceroyalty of India , later the Portuguese State of India , was the aggregate of Portugal's colonial holdings in India.The government started in 1505, six years after the discovery of a sea route to India by Vasco da Gama, with the nomination of the first Viceroy Francisco de...
was annexed by the Republic of India in 1961, the escudo was replaced by the Indian rupee
Indian rupee
The Indian rupee is the official currency of the Republic of India. The issuance of the currency is controlled by the Reserve Bank of India....
.
Coins
Coins were introduced in 1958 in denominations of 10, 30 and 60 centavos, 1, 3 and 6 escudos. The 10 and 30 centavos were struck in bronze, the others in cupro-nickel.Banknotes
In 1959, notes were introduced by the Banco Nacional UltramarinoBanco Nacional Ultramarino
Banco Nacional Ultramarino was a Portuguese bank with operations throughout the world, especially in Portugal's former overseas provinces. It ceased existence as an independent legal entity in Portugal following its merger with Caixa Geral de Depósitos, the government-owned savings bank, in...
in denominations of 30, 60, 100, 300, 600 and 1000 escudos.