The Cape Verde Escudo (CVE) is the official currency of Cape Verde, an island country in the central Atlantic Ocean. It is pegged to the euro at a fixed exchange rate.
Description: The Cape Verde Escudo (CVE) has been the currency of Cape Verde since 1914, replacing the Portuguese escudo. It is subdivided into 100 centavos. The currency is issued by the Bank of Cape Verde, the country's central bank. The escudo was historically pegged to the Portuguese escudo and later to the euro, with a fixed rate of 1 EUR = 110.265 CVE. Cape Verde is a small island nation with a developing economy, heavily reliant on services, tourism, and remittances. The currency plays a crucial role in maintaining economic stability and facilitating trade.
