Cape Verde Escudos (CVE)

Cape Verde Escudos (CVE) is the official currency of Cape Verde, an archipelago nation located off the northwest coast of Africa. It was introduced in 1914 when Cape Verde was a Portuguese colony. After gaining independence in 1975, Cape Verde established its own currency and adopted the Cape Verde Escudo as its official monetary unit.

The Cape Verde Escudo is denoted by the international currency code CVE and is symbolized by the “$” sign or the abbreviation “Esc.” It is subdivided into 100 centavos. The currency is issued and regulated by the Central Bank of Cape Verde.

Banknotes in Cape Verde Escudos are available in denominations of 200, 500, 1000, 2000, 2500, and 5000 escudos. Coins are available in denominations of 1, 5, 10, 20, 50, and 100 escudos.

The Cape Verde Escudo is the legal tender within Cape Verde and is used for all domestic transactions. It is also widely accepted by tourists visiting the country.

The value of the Cape Verde Escudo can fluctuate against other currencies based on exchange rates. It is advisable for travelers to have up-to-date information on the currency before visiting Cape Verde.

In conclusion, the Cape Verde Escudo is the official currency of Cape Verde and is widely used within the country for trade and tourism. It plays a significant role in the economic activities of Cape Verde.