Was just wondering about the level of inflation in 20th century Portuguese-ruled Goa, after coming across this comment:
QUOTE: The escudo was introduced on 22 May 1911, after the 1910 Republican revolution, to replace the real at the rate of 1,000 réis to 1 escudo. The term mil réis (thousand réis) remained a colloquial synonym of escudo up to the 1990s. One million réis was called one conto de réis, or simply one conto. This expression passed on to the escudo, meaning 1,000 escudos. The escudo's value was initially set at 4$50 escudos = 1 pound sterling. After 1914, the value of the escudo fell, being fixed in 1928 at 108$25 to the pound. This was altered to 110$00 escudos to the pound in 1931. A new rate of 27$50 escudos to the U.S. dollar was established in 1940, changing to 25$00 in 1940 and 28$75 in 1949. Inflation throughout the 20th century made centavos essentially worthless by its end, with fractional value coins with values such as $50 or 2$50 eventually withdrawn from circulation in the 1990s. With the entry of Portugal in the Eurozone, the conversion rate to the euro was set at 200$482 escudos to €1. UNQUOTE http://en.wikipedia.org/wiki/Portuguese_escudo Just curious: how did the Indian Rupee compare with the Escudo in the 1960s and earlier? Some additional details here: QUOTE: Before 1871, the rupia was subdivided into 750 bazarucos, 600 réis (singular: real), 20 pardaus or 10 tangas, with the xerafim worth 2 rupias. After 1871, 960 réis or 16 tangas (worth 60 réis) equalled 1 rupia. The rupia was equal in value to the Indian rupee. In 1958, the currency was replaced by the escudo Portuguese Indian escudo: The escudo was the currency of Portuguese India between 1958 and 1961. It was divisible into 100 centavos and was equal in value to the Portuguese escudo History:The escudo replaced the rúpia at the rate of 1 rúpia = 6 escudos.ENDQUOTE http://www.absoluteastronomy.com/topics/Portuguese_Indian_rupia -- Frederick Noronha :: +91-832-2409490 ANOTHER GOA: http://tiny.cc/anothergoa Facebook: http://www.facebook.com/fredericknoronha Writing, editing, alt.publishing, photography, journalism
