# Cape Verdean escudo

> currency of the Republic of Cape Verde

**Wikidata**: [Q4591](https://www.wikidata.org/wiki/Q4591)  
**Wikipedia**: [English](https://en.wikipedia.org/wiki/Cape_Verdean_escudo)  
**Source**: https://4ort.xyz/entity/cape-verdean-escudo

## Summary
The Cape Verdean escudo (CVE) is the official currency of the Republic of Cape Verde, an island nation in the Atlantic Ocean. It was introduced in 1914 and is pegged to the euro, with 1 escudo equal to 100 centavos. The currency is managed by the Bank of Cape Verde and is widely used for transactions across the country's ten islands.

## Key Facts
- **Currency Code**: CVE (ISO 4217 standard).
- **Subunit**: Centavo (100 centavos = 1 escudo).
- **Issuer**: Bank of Cape Verde.
- **Pegged to**: Euro (1 EUR = 100 CVE).
- **Introduction Date**: 1914 (as a colonial currency).
- **Banknotes**: Denominations include 50, 100, 200, 500, and 1000 escudos.
- **Coins**: Denominations include 1, 5, 10, 20, and 50 centavos, and 1 escudo.
- **Country**: Republic of Cape Verde.
- **ISO 4217 Code**: CVE.
- **Wikidata ID**: Q745316.
- **Wikipedia Title**: Cape Verdean escudo.
- **Sitelink Count**: 49 (Wikipedia language editions).
- **Related Entities**: Instance of currency, country (Cape Verde), and part of the eurozone peg.
- **Images**: Includes 200 escudo banknote and coin designs.
- **Aliases**: Cabo Verde Escudo, Kaapverdische escudo.
- **Technical Identifiers**: CCY_CVE (ISO 15022), 500141 (SWIFT code).

## FAQs
**What is the Cape Verdean escudo, and how does it function?**
The Cape Verdean escudo (CVE) is the official currency of Cape Verde, an island nation in the Atlantic. It is pegged to the euro and is issued by the Bank of Cape Verde. The currency is divided into 100 centavos and is used for all financial transactions within the country.

**How is the Cape Verdean escudo pegged to the euro?**
The Cape Verdean escudo is pegged to the euro at a fixed rate of 1 euro = 100 escudos. This means that the value of the escudo is directly tied to the euro, ensuring stability in the country's economy.

**What denominations of banknotes and coins are in circulation?**
The Cape Verdean escudo includes banknotes in denominations of 50, 100, 200, 500, and 1000 escudos, as well as coins of 1, 5, 10, 20, and 50 centavos, and 1 escudo.

**Who issues the Cape Verdean escudo?**
The Cape Verdean escudo is issued by the Bank of Cape Verde, the country's central bank. The bank is responsible for managing the currency, ensuring its stability, and regulating financial transactions.

**What is the history of the Cape Verdean escudo?**
The Cape Verdean escudo was introduced in 1914 as part of the Portuguese colonial system. After Cape Verde gained independence in 1975, the escudo remained in use and was later pegged to the euro in 1999.

## Why It Matters
The Cape Verdean escudo is a crucial component of Cape Verde's economy, facilitating trade, investment, and daily transactions. Its peg to the euro provides stability and confidence in the currency, supporting economic growth and development. As a small island nation, Cape Verde relies on its currency to attract tourism, investment, and trade, making it essential for the country's prosperity. The escudo's management by the Bank of Cape Verde ensures financial stability and regulatory oversight, contributing to Cape Verde's status as a middle-income country.

## Notable For
- **Euro Peg**: One of the few currencies pegged to the euro, providing economic stability.
- **Colonial Legacy**: Maintains its use since 1914, reflecting Cape Verde's historical ties to Portugal.
- **Banknote Designs**: Features notable historical and cultural elements of Cape Verde.
- **SWIFT Code**: Uses the code 500141, a unique identifier in the global financial system.
- **ISO 15022 Code**: CCY_CVE, ensuring compatibility in international financial transactions.
- **Centavo Subunit**: Divided into 100 centavos, a common subunit in many currencies.
- **Bank of Cape Verde Issuer**: The central bank manages the currency, ensuring economic stability.
- **Wikipedia Recognition**: Documented in 49 language editions, highlighting its global relevance.
- **ISO 4217 Standard**: Officially recognized with the code CVE, ensuring international acceptance.
- **Economic Stability**: Supports Cape Verde's transition from a post-colonial state to a middle-income economy.

## Body

### Currency Basics
The Cape Verdean escudo (CVE) is the official currency of the Republic of Cape Verde, an island nation in the Atlantic Ocean. It is pegged to the euro at a fixed rate of 1 euro = 100 escudos, ensuring stability in the country's economy. The currency is issued by the Bank of Cape Verde, the central bank responsible for managing the escudo and regulating financial transactions. The escudo is divided into 100 centavos, with coins and banknotes in circulation reflecting this subdivision.

### Historical Context
The Cape Verdean escudo was introduced in 1914 as part of the Portuguese colonial system. After Cape Verde gained independence in 1975, the escudo remained in use and was later pegged to the euro in 1999. This peg has provided economic stability and confidence in the currency, supporting Cape Verde's development as a middle-income country. The currency's history reflects the country's transition from colonial rule to independence and its integration into the global financial system.

### Denominations and Designs
The Cape Verdean escudo includes banknotes in denominations of 50, 100, 200, 500, and 1000 escudos, as well as coins of 1, 5, 10, 20, and 50 centavos, and 1 escudo. The banknotes feature designs that reflect Cape Verde's history and culture, including images of historical figures, landscapes, and symbols of the country. The coins also incorporate these themes, ensuring a cohesive representation of Cape Verde's identity across its currency.

### Economic Role
The Cape Verdean escudo plays a vital role in Cape Verde's economy, facilitating trade, investment, and daily transactions. Its peg to the euro provides stability and confidence in the currency, supporting economic growth and development. As a small island nation, Cape Verde relies on its currency to attract tourism, investment, and trade, making it essential for the country's prosperity. The escudo's management by the Bank of Cape Verde ensures financial stability and regulatory oversight, contributing to Cape Verde's status as a middle-income country.

### International Standards and Codes
The Cape Verdean escudo is officially recognized with the ISO 4217 code CVE, ensuring international acceptance. It also uses the SWIFT code 500141 and the ISO 15022 code CCY_CVE, which are essential for global financial transactions. These codes ensure that the escudo is compatible with international financial systems, supporting Cape Verde's integration into the global economy.

### Related Entities and Connections
The Cape Verdean escudo is connected to several key entities, including the Bank of Cape Verde, the Republic of Cape Verde, and the euro. The Bank of Cape Verde manages the currency, ensuring its stability and regulatory oversight. The Republic of Cape Verde is the country where the escudo is used, and its peg to the euro reflects its economic integration with the European Union. These connections highlight the escudo's role in Cape Verde's economic and financial systems.

### Technical Identifiers and Standards
The Cape Verdean escudo is identified by various technical standards and codes, including:
- **ISO 4217 Code**: CVE.
- **SWIFT Code**: 500141.
- **ISO 15022 Code**: CCY_CVE.
- **Wikidata ID**: Q745316.
- **Wikipedia Title**: Cape Verdean escudo.
- **Sitelink Count**: 49 (Wikipedia language editions).
- **Aliases**: Cabo Verde Escudo, Kaapverdische escudo.
- **Images**: Includes 200 escudo banknote and coin designs.

These identifiers ensure that the escudo is recognized and compatible with international financial systems, supporting Cape Verde's economic stability and growth.

## References

1. Freebase Data Dumps. 2013
2. GF WordNet