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.
20/12/2017: Devaluation of Algerian Dinar
The Algerian dinar was devalued again, as it faced economic challenges and low oil prices.
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.
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.
29/06/2014: 50th Anniversary of Algerian Dinar
Algeria celebrated the 50th anniversary of the introduction of the Algerian dinar as its national currency.
01/01/2005: Decimalization of the escudo
The Cape Verdean escudo underwent a decimalization process, with the subdivision of 1 escudo into 100 centavos.
21/12/1999: Introduction of Euro-Dinar Exchange Rate
The euro-dinar exchange rate was introduced, replacing the French franc as the peg currency for the Algerian dinar.
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.
17/09/1994: Introduction of New Dinar
A new series of banknotes was introduced in Algeria, with the intent of stabilizing the currency and reducing inflation.
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.
10/11/1973: Devaluation of Algerian Dinar
The Algerian dinar was devalued by 30%, as a result of the global oil crisis and economic challenges faced by Algeria.
07/05/1971: Algerian Dinar Pegged to French Franc
The Algerian dinar was pegged to the French franc at a rate of 1 dinar to 1.20 francs, establishing a fixed exchange rate.
01/10/1964: Introduction of Algerian Dinar
The Algerian dinar was introduced as the official currency of Algeria, replacing the French franc at a rate of 1 dinar to 100 francs.