Guinea-Bissau peso
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| peso da Guiné-Bissau (Portuguese) | |
|---|---|
 500 pesos banknote from 1990 | |
| ISO 4217 | |
| Code | GWP |
| Denominations | |
| Subunit | |
| 1⁄100 | centavos |
| Banknotes | 50, 100, 500, 1000, 5000, 10,000 pesos |
| Coins | 50 centavos, 1, 2+1⁄2, 5, 20 pesos |
| Demographics | |
| Date of introduction | 1975 |
| Replaced | Portuguese Guinean escudo |
| Date of withdrawal | 1997 |
| User(s) | Guinea-Bissau |
| Issuance | |
| Central bank | National Bank of Guinea-Bissau |
| This infobox shows the latest status before this currency was rendered obsolete. | |
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.
History
[edit]The 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
[edit]Coins were issued in denominations of 50 centavos, 1, 2+1⁄2, 5 and 20 pesos.
Banknotes
[edit]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.
| 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 | Amílcar Cabral | "Apoteose ao Triunfo" |
| [9] | [10] | 5000 pesos | Purple and brown | Amílcar Cabral | Fieldwork |
| [11] | [12] | 10,000 pesos | Green | Amílcar Cabral | Fishermen |
See also
[edit]
References
[edit]- ^ Linzmayer, Owen (2012). "Guinea-Bissau". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.
External links
[edit]| Preceded by: Portuguese Guinean escudo Reason: independence Ratio: at par | Currency of Guinea-Bissau 1975 – 1997 | Succeeded by: West African CFA franc Reason: joining currency union and inflation Ratio: 1 franc = 65 pesos |
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