Portuguese Colonial Currency

PORTGUESE COLONIES

The Country of Portugal became a very wealthy and vast empire. By the year 1419 the Portuguese has set sail and discovered the Coast of Africa after which their discoveries had lead them to place such as Cape of Good Hope in 1498, India, South America in 1500. The Portuguese set up a colony in South America called Brazil . After this the Portuguese had started setting up forts and trading posts as they sailed along the East Asian coasts.

The Escudo was the currency of the mainland of Portugal . Portugal Africa used the Escudo as their main currency until Africa achieved independence.

In Angola the Escudo was used between1914-1928, although in 1928 the Angolar was introduced. By the tim e Portugal had finished unifying all their currencies over their vast empire Angola was reintroduced to the Escudo in 1958 and used the coin until 1977.

In Cape Verde a former Portuguese colony the Escudo was equal to the Portugal Escudo by 1977-1978 declined in value by 30% and again dropped by 40% in 1982-1984.

The currency of Mozambique in 1914-1980 was the Escudo although Mozambique has paper notes the Portuguese currency was generally used. In 1935 only the Portugal Escudo was used. In 1975 the metica was a replacement for the colony of Cape Verde but again wasn’t used.

Portugal Guinea the Escudo was used between1914-1975 and was also equal to the Portugal Escudo, Portugal paper bank notes were issued in 1914 as well. Independence became the reason of the replacement of the Escudo and the Peso took its place.

Sao Tome and Principe also used the Escudo in 1914-1977. At first paper bank notes were issued and the colony then used the Portuguese coins. The Escudo was replaced by the dobra.

Only Cape Verde still uses the Escudo. Tim or-Leste adopted the Escudo and is still a Portuguese colony. Portuguese India adopted the Escudo as well before the colony decided to join India as a whole.