Currency in Portugal

While you are taking up a Portugal trip, ensure that you carry Euro with you as that is the currency in Portugal. Before Euro, Escudo was the legally accepted currency in Portugal. Euro came into effect on 1 January 1999 but was removed from circulation on 28 February 2002.

Euro Facts

Overview Euro
Currency Name Euro
Short Name EUR
Unit 1/100, CENT
Frequently Used Currency (Denomination) 1 €, 2 €, 10C, 20C, 50C

You can also buy/exchange Dollars with Euros in a seamless manner in the Algarve region at banks, Cambios (exchange counters), hotels and even at shops. Banks for money exchange purposes are open from Monday through Friday from 8.30am and 3 pm. For best rates, visit the banks. One can avail 24 hrs exchange services at the exchange desks. Hotels, however, provide very minimal exchange rates, consequently considered highly disadvantageous for travellers.

Tourists, who are not familiar with Euro, must remember that the subunits are referred to as 1, 2, 5, 10, 20 and 50 cents – mostly available in coins. Banknotes are referred to as 5, 10, 20, 50, 100, 200 and 500 Euro bills. 

If you have any more queries about Portugal, speak to SOTC today.

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