Portuguese Timorese escudo
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The escudo was the currency of Portuguese Timor between 1959 and 1976. It replaced the pataca at a rate of 5.6 escudos = 1 pataca and was equivalent to the Portuguese escudo. It was replaced by the Indonesian rupiah following East Timor's occupation by Indonesia. The escudo was subdivided into 100 centavos.
The first coins issued, dated 1958, were for 10, 30 and 60 centavos, 1, 3 and 6 escudos. The first banknotes, dated 1959, were in denominations of 30, 60, 100 and 500 escudos. The unusual denominations may have been due to the exchange rate from the previous currency. Later, more conventionally denominated issues were coins of 20 and 50 centavos, 2½, 5 and 10 escudos together with 20, 50 and 1000 escudos notes. All paper money was issued by the Banco Nacional Ultramarino.
See also: Cifrão
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