Convert United States Dollar to Cape Verdean Escudo
Please provide values below to convert United States Dollar [USD] to Cape Verdean Escudo [CVE], or Convert Cape Verdean Escudo to United States Dollar.
How to Convert United States Dollar to Cape Verdean Escudo
1 USD = 0.0106396900871071 CVE
Example: convert 15 USD to CVE:
15 USD = 15 × 0.0106396900871071 CVE = 0.159595351306607 CVE
United States Dollar to Cape Verdean Escudo Conversion Table
| United States Dollar | Cape Verdean Escudo |
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United States Dollar
The United States Dollar (USD) is the official currency of the United States of America, used as a standard unit of monetary value and exchange.
History/Origin
The USD was established in 1792 with the Coinage Act, replacing the Continental Congress's Continental Currency. It has since become one of the world's dominant reserve currencies, influenced by the economic growth of the U.S. and global financial markets.
Current Use
The USD is widely used domestically and internationally for trade, investment, and as a reserve currency. It is the most traded currency in the foreign exchange market and is used as the standard currency in many international transactions.
Cape Verdean Escudo
The Cape Verdean Escudo (CVE) is the official currency of Cape Verde, used for all monetary transactions within the country.
History/Origin
Introduced in 1914, the Escudo replaced the Cape Verdean real and has undergone various reforms, with the current version established in 1992 to stabilize the economy and modernize the currency system.
Current Use
The CVE is actively used as the legal tender in Cape Verde, with banknotes and coins circulating nationwide, and it is pegged to the Euro at a fixed rate for stability.