Cape Verde

Money & costs

Money

The unit of currency is the Cape Verde escudo (CVE), divided into 100 centavos. It’s not a hard currency, but it’s stable; in January 2002, it was pegged to the euro. Most businesses also accept US dollars and euros.

Banks are found in all the main towns and even some of the smaller ones, and most have ATMs that accept bankcards and Visa. Many also change travellers cheques and cash in all the main currencies (except the West African CFA). Many also give cash advances with a Visa card.

Changing money on the black market is illegal and carries risks (US dollars and Portuguese escudos are often fakes), so avoid it unless you’re desperate. Be careful not to get stuck with Cape Verdean escudos (not legal tender outside the islands). The bank at Sal’s airport and Banco Interatlântico in Praia should change escudos back into other currencies, but bring moneychanging receipts, your passport and air ticket, which may be requested.

Credit cards are accepted only in very upmarket establishments.