The peso was the currency of Guinea-Bissau from 1975 to 1997 and was divided into 100 centavos. It replaced the escudo at par. In 1997, in an effort to stop high inflation, Guinea-Bissau adopted the CFA franc, using a conversion rate of 65 pesos to the franc.
The peso replaced the escudo in 1975. It was originally equivalent to the Portuguese escudo.
Historical exchange ratesedit
1975–1976: fixed exchange rate with the Portuguese escudo at parity.
1976–1977: fixed exchange rate with the Portuguese escudo (0.85 GWP = 1.00 PTE)
1977–1978: fixed exchange rate with the Portuguese escudo (0.74 GWP = 1.00 PTE)
26 May 1978–22 December 1983: fixed exchange rate with the special drawing rights at a rate of 44 pesos per SDR.
23 December 1983: Peso devalued to 88 per SDR.
4 May 1987: Peso devalued to 650 per USD.
Continued rapid inflation had eroded the value of the peso. By 1996, the exchange rate had reached 225 pesos per Portuguese escudo.
Coinsedit
Coins were issued in denominations of 50 centavos, 1, 2+1⁄2, 5 and 20 pesos.
Banknotesedit
Banknotes in denominations of 50, 100, and 500 pesos dated 24-9-1975 (24 September 1975) were issued on 2 March 1976.[1] 1000 peso notes were introduced in 1978, followed by 5000 pesos notes in 1984 and 10,000 pesos notes in 1990.
guinea, bissau, peso, peso, currency, guinea, bissau, from, 1975, 1997, divided, into, centavos, replaced, escudo, 1997, effort, stop, high, inflation, guinea, bissau, adopted, franc, using, conversion, rate, pesos, franc, peso, guiné, bissau, portuguese, peso. The peso was the currency of Guinea Bissau from 1975 to 1997 and was divided into 100 centavos It replaced the escudo at par In 1997 in an effort to stop high inflation Guinea Bissau adopted the CFA franc using a conversion rate of 65 pesos to the franc Guinea Bissau pesopeso da Guine Bissau Portuguese 500 pesos banknote from 1990ISO 4217CodeGWPDenominationsSubunit 1 100centavosBanknotes50 100 500 1000 5000 10 000 pesosCoins50 centavos 1 2 1 2 5 20 pesosDemographicsDate of introduction1975ReplacedPortuguese Guinean escudoDate of withdrawal1997User s Guinea BissauIssuanceCentral bankNational Bank of Guinea BissauThis infobox shows the latest status before this currency was rendered obsolete Contents 1 History 1 1 Historical exchange rates 2 Coins 3 Banknotes 4 See also 5 References 6 External linksHistory editThe peso replaced the escudo in 1975 It was originally equivalent to the Portuguese escudo Historical exchange rates edit 1975 1976 fixed exchange rate with the Portuguese escudo at parity 1976 1977 fixed exchange rate with the Portuguese escudo 0 85 GWP 1 00 PTE 1977 1978 fixed exchange rate with the Portuguese escudo 0 74 GWP 1 00 PTE 26 May 1978 22 December 1983 fixed exchange rate with the special drawing rights at a rate of 44 pesos per SDR 23 December 1983 Peso devalued to 88 per SDR 4 May 1987 Peso devalued to 650 per USD Continued rapid inflation had eroded the value of the peso By 1996 the exchange rate had reached 225 pesos per Portuguese escudo Coins editCoins were issued in denominations of 50 centavos 1 2 1 2 5 and 20 pesos Banknotes editBanknotes in denominations of 50 100 and 500 pesos dated 24 9 1975 24 September 1975 were issued on 2 March 1976 1 1000 peso notes were introduced in 1978 followed by 5000 pesos notes in 1984 and 10 000 pesos notes in 1990 Current Series Image Value Main Colour Description Obverse Reverse Obverse Reverse 1 2 50 pesos Reddish purple Pansau Na Isna Villagers 3 4 100 pesos Khaki Domingos Ramos Central Bank building in Bissau 5 6 500 pesos Blue Francisco Mendes Slavery 7 8 1000 pesos Brown Amilcar Cabral Apoteose ao Triunfo 9 10 5000 pesos Purple and brown Amilcar Cabral Fieldwork 11 12 10 000 pesos Green Amilcar Cabral FishermenSee also edit nbsp Africa portal nbsp Money portal nbsp Numismatics portal Economy of Guinea BissauReferences edit Linzmayer Owen 2012 Guinea Bissau The Banknote Book San Francisco CA www BanknoteNews com External links editThe Bank Notes of Guinea Bissau by Peter Symes Guinea Bissau peso Preceded by Portuguese Guinean escudoReason independenceRatio at par Currency of Guinea Bissau 1975 1997 Succeeded by West African CFA francReason joining currency union and inflationRatio 1 franc 65 pesos nbsp This Guinea Bissau related article is a stub You can help Wikipedia by expanding it vte nbsp This article about a unit of currency is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title Guinea Bissau peso amp oldid 1218083014, wikipedia, wiki, book, books, library,
