Cape Verde Islands

Friday 31.10.2014

 

Currency and exchange

 
1000 Escudo bill

Currency, Exchange and Prices

Currency

The currency of Cape Verde is the Escudo de Cabo Verde (ECV). Coins come in denominations from 1 to 200 escudos and bills from 200 to 5000. The 1000 bill is commonly called the conto.

One euro is equal to ECV 110.265 (fixed, non-variable exchange rate).

 

Currency Exchange

Exchange counters are located at international airports, but not at domestic airports. Otherwise, every county has a bank that is open from 8 a.m. to 3 p.m. In addition, there are exchange offices that also exchange currency at the official rate. You can also sometimes pay with euros in stores and taxis, but the change will be returned in escudos at a less favourable exchange rate of 1 euro to 100 escudos. There is a fee of 300 escudos for exchanging traveller’s checks. Eurocheques are not accepted at every office location. Credit cards issued by Mastercard or Visa are accepted at major hotels and banks. Withdrawing cash with credit cards (Mastercard and Visa) is possible, but rather expensive. You must present your passport when exchanging money or paying with a credit card (so you should always have it with you). 

Prices

The prices in stores are comparable with those in Europe.

Rooms in small guesthouse cost between 20 and 40 euros. Rates for hotel rooms range from 40 to 130 euros. You can get a small lunch for just 5 euros, but you’ll pay about 20 euros at better restaurants. Beverages cost 1-2 euros.