Portugal has been a member state of the European Union since 1986. The country therefore uses the euro as its official currency. One euro currently equals approximately $1.11, while one dollar is worth around €0.90.

The Euro in Portugal

The euro is the common currency shared among European Union member states. In Portugal, you'll find banknotes in denominations of €10, €20, €50, and €100, alongside coins of €1, €2, and €0.05, €0.10, €0.20, and €0.50. These are distributed by the European Central Bank under the ISO 4217 code "EUR".

Daily Transactions

Travelers holding foreign currency can exchange their money at dedicated exchange services or through banks.

Automated teller machines are available in all major cities, though they become less frequent in rural villages—it's wise to withdraw cash in advance. Credit card payments are widely accepted at upscale and mid-range hotels and restaurants, but less common in budget accommodations, local bars, and family-run eateries. It's advisable to always carry some cash with you.