04/11/2021: Resignation of Central Bank Governor and Lira Volatility
Following the resignation of the Turkish Central Bank governor, the lira experiences significant volatility in the foreign exchange market.
04/05/2020: COVID-19 impact on currency
The outbreak of COVID-19 and its economic consequences led to a depreciation of the Cape Verdean escudo against major international currencies due to reduced tourism and economic activity.
10/08/2018: Currency Crisis and Lira Depreciation
The Turkish lira suffers a severe depreciation due to escalating tensions with the United States and concerns over the Turkish economy.
30/09/2017: New escudo banknotes issued
Cape Verde introduced a new series of banknotes for the escudo, featuring enhanced security features, updated designs, and improved durability.
15/07/2016: Failed Coup Attempt and Lira Plunge
After a failed coup attempt, the value of the Turkish lira plunges as political instability increases.
31/12/2014: End of the peg to the euro
Cape Verde decided to abandon the peg to the euro, shifting to a managed float exchange rate system to allow the currency to fluctuate based on market forces.
30/04/2008: Global Financial Crisis and Turkish Lira
The Turkish lira experiences a significant depreciation as a result of the global financial crisis.
01/01/2005: Decimalization of the escudo
The Cape Verdean escudo underwent a decimalization process, with the subdivision of 1 escudo into 100 centavos.
01/01/2005: Introduction of New Turkish Lira (TRY)
Turkey introduces a new version of the Turkish lira, denoted as TRY, with a new currency symbol.
01/01/1998: Currency pegged to the euro
The Cape Verdean escudo was pegged to the euro at a fixed exchange rate of 1 euro = 110.265 CVE, ensuring stability and facilitating trade.
17/11/1977: Introduction of the new escudo
A new version of the Cape Verdean escudo was introduced, replacing the previous version with a new design and updated security features.
05/07/1975: Independence of Cape Verde
The Cape Verdean escudo (CVE) was officially adopted as the currency of Cape Verde upon gaining independence from Portugal.
29/10/1930: Adoption of the New Turkish Lira
The Turkish government introduces the New Turkish Lira (Yeni Türk Lirası) to replace the old currency.
29/10/1923: Founding of the Republic of Turkey
The Turkish lira is officially established as the currency of the newly founded Turkish Republic.