note: on 1 January 1999, the EU introduced the euro as a common currency that is now being used by financial institutions in Portugal at a fixed rate of 200.482 Portuguese escudos per euro and will replace the local currency for all transactions in 2002
Currency code: PTE; EUR
Exchange rates: euros per US dollar - 1.0659 (January 2001), 1.0854 (2000), 0.9386 (1999); Portuguese escudos per US dollar - 180.10 (1998), 175.31 (1997), 154.24 (1996)
Fiscal year: calendar year
Portugal Communications
Telephones - main lines in use: 5.3 million (end 1998)
Telephones - mobile cellular: 3,074,194 (1999)
Telephone system: general assessment: undergoing rapid development in recent years, Portugal's telephone system, by the end of 1998, achieved a state-of-the-art network with broadband, high-speed capabilities and a main line telephone density of 53%
domestic: integrated network of coaxial cables, open wire, microwave radio relay, and domestic satellite earth stations
international: 6 submarine cables; satellite earth stations - 3 Intelsat (2 Atlantic Ocean and 1 Indian Ocean), NA Eutelsat; tropospheric scatter to Azores; note - an earth station for Inmarsat (Atlantic Ocean region) is planned