Colloquial Expressions
"Conto" was the unofficial multiple of the escudo: 1 conto meant 1000$00, 2 contos meant 2000$00 and so on. The original expression was "conto de réis", which meant "one million réis". Since the escudo was worth 1000 réis (the older currency), therefore one "conto" was the same as a thousand escudos. The expression remained in usage after the advent of th euro, albeit less often, meaning €5, roughly worth 1000 escudos.
Read more about this topic: Portuguese Escudo
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