Foreign Exchange Guide to Cape Verde
In this guide we review :
- Cape Verdean escudo info - general info about the Cape Verdean escudo
- Cape Verdean escudo in the markets - recent CVE moves and predictions from the FX markets
- Travelling in Cape Verde - currency & money saving tips
- Buying Cape Verdean escudo cash online - travel money for Cape Verde
- Sending money to Cape Verde - save on Cape Verdean escudo bank transfers to Cape Verde
- Cape Verdean escudo exchange rates - latest info & charts.
Cape Verdean escudo (CVE) general currency information
Cape Verdean escudo (CVE) in the markets
The chart below shows the CVE to USD exchange rate for the previous 3 months with rate alerts for days when the exchange rate moved up or down significantly or for 30 day highs and lows.
Currency and money saving tips for Cape Verde
Credit cards are not widely accepted so be sure to take some currency, however the Euro is accepted in most places.The local currency is the Cape Verdean Escudo or CV Esc which can only be obtained in the islands. You can take Sterling or Euros to exchange. The fixed exchange rate is 110 CV Esc to €1. ATM's are only found in some places so be prepared to not be able to find them easily.
The official language of the islands is Portuguese, which is used in most written communication, including newspapers; however Creole tends to be used in conversation and it's this you'll hear being used on a day to day basis. Creole is based on African languages but with additions from several European languages. Even this can differ from island to island. More recently, English has been taught as a foreign language in schools.The religion of the islands is largely Christian, with most people being Catholic.Taxis are readily available in the larger towns and resort areas and are generally of a good standard. Although they work on a meter they can at times be ‘creative’ so it is always worth agreeing the cost before setting off. The most inexpensive way of getting around are the 'aluguers’ buses that are easily identified and drive around the town and are often full of passengers and packages. You simply shout when you want to get off.
A pleasantly tropical destination, the Cape Verde islands benefit from average annual temperatures of between 26°C and 30°C.
Cape Verde Trip Checklist
Travel money for Cape Verde
Save money and time by Ordering your Cape Verdean escudo online from Travelex, you get better rates and can pick up the CVE cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in Cape Verdean escudo otherwise you may get much worst exchange rates.
Travel Money for Cape Verde
Sending money to Cape Verde
When sending money to Cape Verde it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 3 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Cape Verdean escudo amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted CVE amount will be transfered to the recipient account you specify in Cape Verde.
Bank Transfers to Cape Verde
By comparing the rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Cape Verdean escudo deposited into the recipient bank account in Cape Verde and less margins and fees kept by the banks!