The escudo was the currency of

Portuguese India The State of India ( pt, Estado da Índia), also referred as the Portuguese State of India (''Estado Português da Índia'', EPI) or simply Portuguese India (), was a state of the Portuguese Empire founded six years after the discovery of a se ...

between 1958 and 1961. It was subdivided into 100 '' centavos'' and was equal in value to the

Portuguese escudo The Portuguese escudo was the currency of Portugal from May 22nd 1911 until the introduction of the euro on January 1st 2002. The escudo was subdivided into 100 . The word derives from the scutum shield. Amounts in escudos were written as w ...

. After

was

annexed Annexation (Latin ''ad'', to, and ''nexus'', joining), in international law, is the forcible acquisition of one state's territory by another state, usually following military occupation of the territory. It is generally held to be an illegal act ...

by the

Republic of India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...

in 1961, the escudo was replaced by the

Indian rupee The Indian rupee ( symbol: ₹; code: INR) is the official currency in the republic of India. The rupee is subdivided into 100 ''paise'' (singular: ''paisa''), though as of 2022, coins of denomination of 1 rupee are the lowest value in use wh ...

History

The escudo replaced the rupia at the rate of 1 rupia = 6 escudos. This was due to the respective values of the

(to which the rupia was pegged) and the Portuguese escudo, with 1 rupee = 1s. 6d. stg and 1 escudo = 3d.

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. Except for the 10 centavos, which was minted in 1961, none of these coins were produced after 1959. All of them are common.

Banknotes

In 1959, notes were introduced by the ''

Banco Nacional Ultramarino Banco Nacional Ultramarino (, BNU; ; en, National Overseas Bank) is a Macau banking and financial services corporation. It was a Portuguese bank with operations throughout the world, especially in Portugal's former overseas provinces. It ceased e ...

'' in denominations of 30, 60, 100, 300, 600 and 1000 escudos.

References

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External links

System Portuguese Indian escudo - Banknotes

Indo-Portuguese Issues
{{Authority control Portuguese India Modern obsolete currencies Historical currencies of India Economic history of Portugal 1958 establishments in Portuguese India 1961 disestablishments in Portuguese India Escudo