Portuguese Timorese escudo

The Escudo ( TPE) was the currency in the colony of Portuguese Timor 1959-1976. It was divided into 100 centavos. He replaced there the Pataca. Here, a Pataca were exchanged for 5.6 escudos. With the Portuguese escudo, the Timorese escudo was equivalent.

As the colony in 1975 as East Timor declared itself independent, there was no time for the introduction of its own currency, since only nine days later, Indonesia occupied the country and 1976 incorporated it into its territory. After the Indonesian Rupiah was legal tender.

The first coins are dated 1958. They existed to ten, 30 and 60 centavos and one, three and six escudos. 1959 followed by the first banknotes with values ​​to 30, 60, 100 and 500 escudos. The unusual graduation derives from the exchange rate on the old Pataca. Later coins were introduced to 20 and 50 centavos and a half, five and ten escudos and notes 20, 50 and 1000 escudos. The notes were issued by the Banco Nacional Marino Ultra.