History
The escudo replaced the rúpia at the rate of 1 rúpia = 6 escudos. This was due to the respective values of the Indian rupee (to which the rúpia was pegged) and the Portuguese escudo, with 1 rupee = 18 British pence and 1 escudo = 3 pence. After Portuguese India was annexed by the Republic of India in 1961, the escudo was replaced by the Indian rupee.
Read more about this topic: Portuguese Indian Escudo
Famous quotes containing the word history:
“American time has stretched around the world. It has become the dominant tempo of modern history, especially of the history of Europe.”
—Harold Rosenberg (1906–1978)
“A great proportion of the inhabitants of the Cape are always thus abroad about their teaming on some ocean highway or other, and the history of one of their ordinary trips would cast the Argonautic expedition into the shade.”
—Henry David Thoreau (1817–1862)
“... in America ... children are instructed in the virtues of the system they live under, as though history had achieved a happy ending in American civics.”
—Mary McCarthy (1912–1989)