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The currency of Portugal is the Euro, with one Euro equalling 100 cents. Notes come in denominations of €500, 200, 100, 50, 20, 10 and 5. Coins are in denominations of €2 and 1, and 50, 20, 10, 5, 2 and 1 cents. Money can be exchanged at many bureaus and an increasing number of ATMs. Traveller’s cheques are accepted, though not very widely. To avoid additional conversion charges these should be in US Dollars, Pounds Sterling or Euros, though it should be noted that commission charges on cheques can be somewhat extortionate. ATMs are widespread through Portugal and the majority of major international credit and debit cards are accepted. See:
Visa: http://www.visa.com/atms/
MasterCard: http://www.mastercard.com/cardholderservices/atm/ The import of both domestic and foreign currency is unlimited, though amounts of around €5,000 and above must be declared. The export of domestic currency is limited to €500, with foreign currency exports unlimited – though receipts can sometimes be asked for, to prove the amount being exported is equal to or less than that initially brought into the country. General banking hours in most areas are from 0830 to 1500 Mondays to Fridays, with a few banks in Lisbon opening longer hours. Normal shopping hours are usually from 0900 to 1300 and 1500 to 1900, Mondays to Fridays, as well as 0900 to 1300 Saturdays. More shopping centres are springing up across the country, with opening hours generally from 1000 to 0000, Mondays to Sundays.Formal suits are expected of business meetings along with an old-fashioned sense of politeness – punctuality is expected. English is widely spoken in business circles, but a knowledge of Portuguese couldn’t hurt. It is customary to tip taxi drivers ten percent, whereas waiters, bellboys etc. range from ten to fifteen percent, depending on personal preference.
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