One of the mysteries of the English language finally explained.
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.’
- ‘Portugal had until the end of February to phase out the escudo.’
- ‘Some taxi operators and small businesses were reported to be giving back change in both euros and escudos, against government recommendations.’
- ‘The baron got 800 escudos a year in compensation.’
- ‘The euro, which replaces the old francs, marks, guilders, pesetas, escudos, drachmas, and lire of the European Union, is not yet five years old.’
- ‘She could earn up to 15,000 escudos a day, or three times the going rate for a building site in Lisbon.’
Spanish and Portuguese, from Latin scutum ‘shield’.
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