Cape Verdean Escudo

The currency of Cape Verde is the Cape Verdean escudo. The escudo is subdivided into 100 centavos. The Cape Verdean escudo is pegged to the euro at a rate of 1 EUR = 110 CVE. The Cape Verdean escudo was introduced in 1914, replacing the Cape Verdean real. The escudo was initially pegged to the Portuguese escudo at a rate of 1 CVE = 1 PTE. In 1999, the escudo was pegged to the euro at a rate of 1 EUR = 110 CVE. The Cape Verdean escudo is minted by the National Mint of Cape Verde. The National Mint of Cape Verde is responsible for the production of all coins and banknotes in circulation in Cape Verde. The Cape Verdean escudo is used in Cape Verde, São Tomé and Príncipe, Guinea-Bissau, and Mozambique.