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Cape Verdean escudo
escudo cabo-verdiano (Portuguese)
1 escudo 1985
1 escudo 1985
ISO 4217 Code CVE
User(s) Cape Verde
Inflation 4. ISO 4217 is the International standard describing three-letter codes (also known as the currency code) to define the names of currencies established The Republic of Cape Verde ( Portuguese: Cabo Verde, 'kabu 'veɾdɨ is a Republic located on an Archipelago in the Macaronesia In economics inflation or price inflation is a rise in the general level of prices of goods and services over a period of time 7%
Source The World Factbook, 2006 est.
Pegged with euro = 110. A fixed exchange rate, sometimes called a pegged exchange rate, is a type of Exchange rate regime wherein a Currency 's value is matched to the value of Please update other articles as well to avoid contradiction within Wikipedia e 265 escudos
Subunit
1/100 centavo
Symbol Esc or $ (cifrão)
Coins 1, 5, 10, 20, 50, 100 escudos
Banknotes 100, 200, 500, 1000, 2000, 2500, 5000 escudos
Central bank Banco de Cabo Verde
Website www.bcv.cv

The escudo is the currency of Cape Verde (Portuguese: Cabo Verde), a former Portuguese colony. Centavo is a Spanish and Portuguese word derived from the Latin centum, meaning "one hundred" and the suffix -avo A currency sign is a graphic symbol often used as a shorthand for a Currency 's name Cifrão is the symbol of the former Portuguese Currency ( Escudo ISO 4217 PTE Cape Verdean escudo and Portuguese Timor A central bank, reserve bank, or monetary authority is the entity responsible for the Monetary policy of a country or of a group of member states The Bank of Cape Verde (Banco de Cabo Verde is Cape Verde 's Central bank. A currency is a unit of exchange, facilitating the transfer of Goods and/or services It is one form of Money, where money is The Republic of Cape Verde ( Portuguese: Cabo Verde, 'kabu 'veɾdɨ is a Republic located on an Archipelago in the Macaronesia Its ISO 4217 code is CVE. ISO 4217 is the International standard describing three-letter codes (also known as the currency code) to define the names of currencies established Amounts are generally written by using $ as the decimal separator, such as 20$00 for 20 escudos, or 1. 000$00 for 1000.

Contents

History

The escudo became the currency of Cape Verde in 1914. It replaced the real at a rate of 1000 réis = 1 escudo. The real (plural réis) was the currency of Cape Verde until 1914 Until 1930, Cape Verde used Portuguese coins, although banknotes were issued by the Banco Nacional Ultramarino specifically for Cape Verde beginning in 1865. Banco Nacional Ultramarino ('bɐ̃ku nɐsiu'naɫ uɫtɾɐmɐ'ɾinu; National Overseas Bank was a Portuguese Bank with operations throughout the world especially

Until independence in 1975, the Cape Verde escudo was equal to the Portuguese escudo. The escudo was the Currency of Portugal prior to the introduction of the Euro on 1 January 1999 and was removed from circulation on Subsequently it depreciated, declining by about 30 per cent in 1977-8 and by a further 40 per cent in 1982-84. Thereafter, it remained fairly stable against the escudo.

In mid-1998 an agreement with Portugal established a pegged rate of 1 Portuguese escudo = 0. 55 Cape Verdean escudo. Since the replacement of the Portuguese escudo with the euro, the Cape Verde escudo has been pegged to the euro at a rate of 1 euro = 110. Please update other articles as well to avoid contradiction within Wikipedia e 265 escudos. This peg is supported by a credit facility from the Portuguese government.

Coins

Under Portuguese rule, coins were introduced in 1930 in denominations of 5, 10, 20 and 50 centavos and 1 escudo. The 5, 10 and 20 centavos were struck in bronze whilst the 50 centavos and 1 escudo were in nickel-bronze. In 1953, bronze 1 escudo, nickel-bronze 2½ escudos and silver 10 escudos were introduced, followed by bronze 50 centavos and nickel-bronze 5 escudos in 1968.

After independence, coins were issued in 1977 in denominations of 20 and 50 centavos, 1, 2½, 10, 20 and 50 escudos. The centavo coins were aluminium, the 1 and 2½ escudos were nickel-bronze and the higher denominations were cupro-nickel. The present coinage was introduced in 1994, brass-plated-steel 1 escudo, copper-plated-steel 5 escudos, nickel-plated-steel 10, 20 and 50 escudos, and bimetallic, decagonal 100 escudos. Construction A regular decagon is Constructible with a Compass and straightedge. It was issued in four design series, featuring birds, ships, plants and native animals. A 200 escudos coin was issued in 2005 to commemorate 30 years of independence.

Banknotes

2000 CVE bill issued in 2006
2000 CVE bill issued in 2006

In 1914, the Banco Nacional Ultramarino introduced notes in denominations of 4, 5, 10, 20 and 50 centavos. Banco Nacional Ultramarino ('bɐ̃ku nɐsiu'naɫ uɫtɾɐmɐ'ɾinu; National Overseas Bank was a Portuguese Bank with operations throughout the world especially In 1921, notes for 1, 5, 10, 20, 50 and 100 escudos were issued. The next series of notes, introduced in 1945, omitted all denominations below 5 escudos (which had been replaced by coins) and included 500 escudos notes. 10 escudos notes were replaced by coins in 1953, with the 5 escudos note also withdrawn.

After independence, notes were issued for 100, 500 and 1000 escudos in 1977. The next series of notes was introduced in 1989 and comprised 100, 200, 500, 1000 and 2500 escudos.

The current, third series was introduced in 1992 in denominations of 200, 500, 1000, with the addition in 1999 of 2000 and 5000 escudos notes. In 2005, the 200 escudos note was redesigned, followed by the 500 and 1000 in 2007.

Historical exchange rates

Date Brazilian Real Euro¹ Portuguese Escudo² United States Dollar
1995 - - 1. Year 1995 ( MCMXCV) was a Common year starting on Sunday. Events of 1995 93 76. 853
1996 - - 1. Year 1996 ( MCMXCVI) was a Leap year starting on Monday (link will display full 1996 Gregorian calendar) 90 82. 591
1997 - - 1. Year 1997 ( MCMXCVII) was a Common year starting on Wednesday (link will display full 1997 Gregorian calendar 90 93. 177
1998 - - 1. Year 1998 ( MCMXCVIII) was a Common year starting on Thursday (link will display full 1998 Gregorian calendar) 82 98. 158
1999 - - 1. Year 1999 ( MCMXCIX) was a Common year starting on Friday (link will display full 1999 Gregorian calendar) 8182 102. 700
December 1999 - - - 107. December 1999: January - February - March - April - May - June - July - August - 285
2005 - 110. Year 2005 ( MMV) was a Common year starting on Saturday (link displays full calendar of the Gregorian calendar. 265 obsolete about 90
February 2006 about 40 to 50 110. Stories without links will be removed. News stories must be in English 835 obsolete about 90
April 2006 about 40 to 50 110. Stories without links will be removed'. News stories must be in English 25 obsolete -
January 2007 39. January 2007 is the first month of that year It began on a Monday and 31 days later ended on a Wednesday. 86 110. 33 obsolete 85. 36
¹ - currency not in circulation until January 1, 1999
² - currency no longer legal tender as of March 1, 2002
Current CVE exchange rates
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Note: These rates are obtained from xe. New Year See also New Year The Ancient Romans began their consular year on January 1st since 153 BC Year 1999 ( MCMXCIX) was a Common year starting on Friday (link will display full 1999 Gregorian calendar) March 2002: January - February - March - April - May - June - July - August - September See also 2002 (disambiguation Year 2002 ( MMII) was a Common year starting on Tuesday of the Gregorian calendar. com and may contradict with pegged rate mentioned above

See also

References

External links


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