Until 1851, the peso was subdivided into 8 reales, with the escudo worth 2 pesos.
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The current peso was introduced on 29 September 1975 by decree 1,123; replacing the escudo at a rate of 1 peso = 1000 escudos.
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The escudo replaced the peso on 1 January 1960 at a rate 1 escudo = 1000 pesos.
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