Guinea-Bissau peso
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 The peso replaced the escudo in 1975. It was originally equivalent to the Portuguese escudo. Historical exchange rates 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. In December 1996, continued rapid inflation had eroded the value of the peso so that the exchange rate had become 225 pesos per Portuguese escudo. Coins Coins were issued in denominations of 50 centavos, 1, , 5 and 20 pesos. Banknotes Banknotes in denominations of 50, 100, and 500 pesos dated 24-9-1975 (24 September 1975) were issued on 2