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MONEY AND BANKS |
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Portugal is one of twelve European Union countries which have
changed over to a single currency, the euro (). Euro notes and coins
went into circulation on January 1, 2002, with Portugeuse escudos (esc
or $) being scrapped entirely at the end of February 2002. You can
exchange your escudos for euros in banks for at least a year after this
date. Euro notes are issued in denominations of 5, 10, 20, 50, 100, 200
and 500 euros, and coins in denominations of 1, 2, 5, 10, 20 and 50
cents and 1 and 2 euros. All prices in this guide are given in euros
correct at the time of writing.
Portuguese banks are efficient, with perhaps the exception of some rural
branches which can be painstakingly slow. You'll find at least one in
all but the smallest towns. Banking hours are Mon-Fri 8.30am-3pm; in
Lisbon and in some of the Algarve resorts they may be open in the
evening to change money. ATMs are common throughout the country and
offer a cheaper alternative to counter service in terms of commission.
Commission on traveller's cheques can be high, so your best bet for
cheap exchange is to use a credit or bank card at an ATM.
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