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All de facto present currencies in Europe, and an incomplete list of the preceding currency, are listed here. In Europe, the most commonly used currency is the euro (used by 26 countries); any country entering the European Union (EU) is expected to join the eurozone [1] when they meet the five convergence criteria. [2]
The Portuguese escudo (Portuguese: escudo português, pronounced [(i)ʃˈkudu puɾtuˈɣeʃ]) was the currency of Portugal replacing the real on 22 May 1911 and was in use until the introduction of the euro on 1 January 2002. The escudo was subdivided into 100 centavos.
De Facto Classification of Exchange Rate Arrangements, as of April 30, 2021, and Monetary Policy Frameworks [2]; Exchange rate arrangement (Number of countries) Exchange rate anchor
Countries that have made legal agreements with the EU to use the euro: Andorra, Monaco, San Marino, Vatican City; Countries that unilaterally use the euro: Montenegro, Kosovo; Currencies pegged to the euro: Cape Verdean escudo, CFA franc, CFP franc, Comorian franc, Bulgarian lev, Bosnia and Herzegovina convertible mark, São Tomé and Príncipe ...
The euro is the result of the European Union's project for economic and monetary union that came fully into being on 1 January 2002 and it is now the currency used by the majority of the European Union's member states, with all but Denmark (which has an opt-out in the EU treaties) bound to adopt it.
Colour key and notes Indicates that a given currency is pegged to another currency (details) Italics indicates a state or territory with a low level of international recognition State or territory Currency Symbol [D] or Abbrev. ISO code Fractional unit Number to basic Abkhazia Abkhazian apsar [E] аҧ (none) (none) (none) Russian ruble ₽ RUB Kopeck 100 Afghanistan Afghan afghani ؋ AFN ...
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[41] [42] Portugal is home to several world class universities and business schools that have been contributing to the creation of a number of highly renowned international managers [43] and are attracting an increasing number of foreign students. [44] Portugal has the highest emigration rate as a proportion of population in the European Union.