In Portugal, the main language is Portuguese, while in Spain, people speak Spanish. The two languages look very similar on paper, but when spoken out loud, the accents, words, and pronunciations are noticeably different! Since I am studying Spanish in Madrid, I was able to use my Spanish to communicate with locals and get by while visiting Portugal.
Both Spain and Portugal use the Euro (€). Right now, 1 Euro is worth about $1.12 in US dollars. This means that 1 Euro is worth about 12 cents more than 1 US dollar.
A small bottle of water usually costs around 1 to 2 Euros (€1-€2). But here is a fun fact: under one of Spain's circular economy laws, bars and restaurants in Spain are legally required to give you free tap water whenever you ask! There are also many drinking fountains all over Madrid where you can drink water or refill your bottle for free.