Cape Verdean escudo eritrean nakfa exchange rate history (CVE ERN) October 2023

Cape Verdean escudo eritrean nakfa history for October 2023. The highest quote for this month is 0.1452 (24/10/2023) and the lowest 0.14584 (24/10/2023). The difference between high and low is -0.44.

CVE ERN average rate for October 2023 is 0.14442, the change between 01/10/2023 and 31/10/2023 is -0.1 %.

01 October 2023	1 CVE = 0.1445 ERN
03 October 2023	1 CVE = 0.1435 ERN
04 October 2023	1 CVE = 0.1431 ERN
06 October 2023	1 CVE = 0.1440 ERN
07 October 2023	1 CVE = 0.1445 ERN
09 October 2023	1 CVE = 0.1447 ERN
10 October 2023	1 CVE = 0.1437 ERN
11 October 2023	1 CVE = 0.1446 ERN
13 October 2023	1 CVE = 0.1441 ERN
16 October 2023	1 CVE = 0.1437 ERN
17 October 2023	1 CVE = 0.1440 ERN
18 October 2023	1 CVE = 0.1443 ERN
19 October 2023	1 CVE = 0.1443 ERN
20 October 2023	1 CVE = 0.1443 ERN
21 October 2023	1 CVE = 0.1446 ERN
22 October 2023	1 CVE = 0.1446 ERN
23 October 2023	1 CVE = 0.1449 ERN
24 October 2023	1 CVE = 0.1460 ERN
25 October 2023	1 CVE = 0.1458 ERN
26 October 2023	1 CVE = 0.1446 ERN
27 October 2023	1 CVE = 0.1446 ERN
29 October 2023	1 CVE = 0.1445 ERN
30 October 2023	1 CVE = 0.1446 ERN
31 October 2023	1 CVE = 0.1447 ERN

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.

08/04/2020: COVID-19 impact on currency circulation

Due to the COVID-19 pandemic, circulation of nakfa banknotes decreased as people relied more on digital transactions.

25/02/2019: Introduction of new nakfa banknotes

Eritrea introduced new banknotes in denominations of 5, 10, 20, 50, and 100 nakfa.

30/10/2018: Currency devaluation

Eritrea devalued the nakfa by 14%, reducing its official exchange rate to 1 USD = 15 ERN.

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.

22/01/2015: Dollarization policy imposed

Eritrea imposed a dollarization policy, making the US dollar the predominant currency for most transactions.

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.

14/11/2005: Currency redenomination

The Eritrean nakfa underwent a redenomination where old nakfa notes were replaced with new nakfa notes in a ratio of 1:1,000.

01/01/2005: Decimalization of the escudo

The Cape Verdean escudo underwent a decimalization process, with the subdivision of 1 escudo into 100 centavos.

01/01/1998: 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.

08/11/1997: Introduction of the Eritrean nakfa

The Eritrean nakfa was introduced as the official currency of Eritrea, replacing the Ethiopian birr.

08/11/1997: Currency exchange rate fixed

The Eritrean nakfa was fixed at an exchange rate of 1 USD = 10 ERN.

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.

Historic Cape Verdean escudo Eritrean nakfa