However, its physical introduction only took place on 1 January 2002 and at the end of February 2002 euro banknotes and coins became the only legal tender in the euro area. In Portugal, the physical replacement of the escudo with euro banknotes and coins took place normally and gradually, following extensive preparatory work carried out by Banco de Portugal and other entities.
In September 2001 euro banknotes and coins were distributed to credit institutions and, in December, to large companies and retailers. Finally, from 17 December, starter kits worth 10 euro were sold to the public at the counters of both Banco de Portugal and credit institutions, containing a mix of all euro coin denominations, so that Portuguese citizens could become familiar with the new currency.