Definition of escudo in English:
noun (plural escudos)
The basic monetary unit of Portugal and the Cape Verde Islands, equal to 100 centavos (replaced in Portugal by the euro in 2002).
- Within one year of abandoning the escudo for the euro, Portugal, for example, was forced to make massive cuts in public spending to meet the stability pact's criteria.
- The euro, which replaces the old francs, marks, guilders, pesetas, escudos, drachmas, and lire of the European Union, is not yet five years old.
- Some taxi operators and small businesses were reported to be giving back change in both euros and escudos, against government recommendations.
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