MADEIRA ESCUDO
Former currency of Madeira, an island off the coast of Portugal. Madeira adopted the euro, together with Portugal, on January 1, 2002. The island is part of Portugal but has been an autonomous region since 1976. Being an autonomous region, it has its own government and legislature, and can make decisions on regional matters. It is the Portugal’s second highest GDP after Lisbon and a well-known EU tourist destination, maybe best known for its wine production. The escudo was also the old official currency of Portugal until it adopted the Euro.
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