The escudo was the currency of Portuguese India between 1959 and 1961. It was subdivided into 100 centavos and was equal in value to the Portuguese escudo.
History The escudo was introduced for accounting purposes on 1 January 1959. Coins and banknotes were introduced in the latter half of 1959. The escudo replaced the rupia at the rate of 1 rupia = 6 escudos. This was due to the respective values of the Indian rupee (to which the rupia was pegged) and the Portuguese escudo, with one rupee equalling one shilling six pence (18 pence) sterling and one escudo equaling three pence.
After Portuguese India was integrated by the Republic of India in 1961, the Indian rupee became legal tender together with the escudo on 29 December 1961. The escudo was then withdrawn from circulation effective 15 May 1962.Reserve Bank of India bulletin, DEMONETIZATION OF ESCUDO NOTES AND COINS IN THE FORMER PORTUGUESE HELD TERRITORIES OF INDIA May 1962, page 700.
Coins Coins were introduced in November 1959 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.
Banknotes In 1959, notes were introduced by the Banco Nacional Ultramarino in denominations of 30, 60, 100, 300, 600 and 1000 escudos.
+ Image Value Main colour Description Obverse Reverse Obverse Reverse 30 escudos Red Afonso de Albuquerque Afonso de Albuquerque and ships 60 escudos Violet 100 escudos Blue 300 escudos Red 600 escudos Green 1000 escudos Brown-green
References
Henczyk, Ivan (2025), Portugees India, Muntkoerier number 9, September 2025.
External links
System Portuguese Indian escudo - Banknotes Indo-Portuguese Issues