The Euro — Money Square · Investopia
Portugal and many other European countries share one currency: the euro. Investopia simulation for ages 10–17 with fictional LeoCoins; not financial advice.
Portugal and many other European countries share one currency: the euro. Find out how it started.
The Story
On 1st January 2002, euro notes and coins arrived in people’s pockets in 12 countries, including Portugal. In Portugal, the euro replaced the escudo.
The euro already existed from 1999, but only in banks and accounts. The exchange rate was 1 euro for 200.482 escudos. There are 8 coins, from 1 cent to 2 euros. The notes are the same in every country, and coins have a common side and a national side. The € symbol was inspired by the Greek letter epsilon.
Key Ideas
- Eurozone: The group of European Union countries that use the euro.
- ECB: The European Central Bank, in Frankfurt, which looks after the euro.
- National side: Each country designs one side of its coins, but all are worth the same across the eurozone.
- Escudo: Portugal’s currency before the euro.
Step by Step
- Countries decided to share a currency.
- In 1999, the euro started in bank accounts.
- In 2002, notes and coins arrived.
- For a few months, both escudos and euros were used.
- Now you can pay in euros in many countries without changing money.
Your Turn
With an adult, look for euro coins at home and check the national side. Can you find one from another country?
Educational simulation with fictional LeoCoins. Not financial advice and no buy or sell recommendations. Companies in the game are invented. Real money decisions are for adults — talk to a trusted adult.
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