/biz/ - Business & Finance

>>18340787
So, according to the internet, the 1st of January, 2002, the day we officially adopted the euro in exclusivity, 100000 Portuguese Escudos (PTE) were equivalent to 543 USD. Also according to the internet, that day, you could buy 1oz of gold for $278. So, 543/278 = 1,95oz, which, at your conversion rate, would mean around €621.
100000 PTE = 498.8 EUR at the official conversion rate (1EUR = 200.482 PTE)

I never did this math before and I'm not even sure I got it right, but what I can tell you is that the stuff that cost 50PTE suddenly cost 0,50€ (ie around 100 PTE), 100PTE became 1€, etc. Salaries, of course, weren't upgraded.

As an anedoctal example, I started working in IT 4 years ago, and my first net salary was fucking €850. 25 years ago, my uncle made the equivalent to around €3k a month NET working in cork extraction