The currency used in Portugal is the euro. Each euro is divided into 100 cents, and youll find Euro banknotes in denominations of 5, 10, 20, 50, 100, 200, and 500, although the 200 and 500 EUR notes are seldom used. There are also 1 and 2 euro coins, and cents come in coins of 1, 2, 5, 10, 20, and 50. The euro banknotes and coins were introduced in Portugal on January 1, 2002, after a transitional period of three years when the euro was the official currency but only existed as book money. The dual circulation period – when both the Portuguese escudo and the euro had legal tender status – ended on February 28, 2002.