CVECape Verdean EscudoCape Verdean Escudo (CVE)
The Cape Verdean escudo is Cabo Verde's official currency and the unit used for prices, payments and public accounts across the islands. Banco de Cabo Verde is the issuing monetary authority. CVE is the ISO code that identifies the escudo in international systems, while the dollar-style symbol can be locally familiar. One escudo is divided into 100 centavos. Cabo Verde's location and trade relationships make the euro link important context, but CVE remains the domestic currency rather than a euro-area currency.
- ISO code
- CVE
- Symbol
- $
- Region
- Africa
- Currency type
- Fiat currency
- Exchange system
- Fixed relationship with the euro
- Last reviewed
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Quick facts
CVE at a glance
Currency profile
How CVE works
The Cape Verdean escudo is Cabo Verde's official currency and the unit used for prices, payments and public accounts across the islands. Banco de Cabo Verde is the issuing monetary authority. CVE is the ISO code that identifies the escudo in international systems, while the dollar-style symbol can be locally familiar. One escudo is divided into 100 centavos. Cabo Verde's location and trade relationships make the euro link important context, but CVE remains the domestic currency rather than a euro-area currency.
Banco de Cabo Verde administers CVE within a fixed relationship with the euro system.
- The Cape Verdean escudo has been Cabo Verde's national currency since independence in 1975.
- The reviewed cash profile records CVE 200, CVE 500, CVE 1,000, CVE 2,000, CVE 2,500, CVE 5,000 for banknotes and CVE 1, 5, 10, 20, 50 and 100 for coins.
Context
Why this currency matters
Banco de Cabo Verde maintains the escudo's fixed relationship with the euro at 110.265 CVE to EUR 1. The arrangement gives travel and remittance users a clear euro reference while other cross-rates continue to move with EUR. The central bank publishes current escudo banknotes and coins used in circulation. A CVE conversion is therefore best understood as a dated reference calculation anchored by a documented monetary arrangement. It should not be read as a guaranteed cash-desk or card quote, especially where provider timing and fees differ. The euro relationship gives CVE a clear European reference, while the escudo remains Cabo Verde's domestic unit for prices and payments.
Monetary framework
Exchange arrangement
Cape Verdean Escudo operates under the reviewed fixed relationship with the euro arrangement, with Euro.
CurrencyHub shows daily reference rates. Banks, card networks, ATMs and transfer providers may apply different exchange rates, fees or spreads.
History timeline
Key dates for CVE
Cabo Verde escudo introduced
The escudo replaced the real in the islands' monetary system.
Banco de Cabo VerdeIndependent monetary institutions
Cabo Verde retained the escudo and developed a national central-bank framework after independence.
Banco de Cabo VerdeEuropean currency agreement
A cooperation agreement established the fixed relationship later expressed against EUR.
Banco de Cabo Verde
Usage and economy
How CVE is used
- CVE is used for local prices, wages, taxes and public accounts across Cabo Verde.
- The euro peg supports comparisons used in tourism, remittances, imports and government finance.
Banknotes and coins
CVE currency units
The issuing authority documents the reviewed CVE banknote denominations used in the current cash system.
The issuing authority documents the circulation coin system for CVE.
One Cape Verdean Escudo unit is recorded with 2 decimal places and uses Centavo as its minor unit.
Related currencies
Currency relationships
Explore currencies connected through regional use, trade comparisons or monetary relationships.
FAQ
CVE questions
Does Cabo Verde use the euro as its official currency?
No. Cabo Verde uses CVE; the escudo's fixed euro relationship is a monetary arrangement, not euro-area membership.
What changed for CVE in 1914?
The escudo replaced the real in the islands' monetary system.
What changed for CVE in 1975?
Cabo Verde retained the escudo and developed a national central-bank framework after independence.
Sources
Data and editorial review
Rate source: Frankfurter
Last reviewed:
Currency identity and cash information is checked against central-bank, government, ISO and official international sources.