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.
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.
20/05/2007: Kuwaiti Dinar Redenominated
The Kuwaiti Dinar underwent a redenomination, with the introduction of new banknotes and removal of three zeros from the 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.
20/03/2003: US Invasion of Iraq
The United States and its allies invaded Iraq, leading to a period of uncertainty and affecting the value of the Kuwaiti 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.
25/03/1991: Kuwait Liberated
Coalition forces led by the United States liberated Kuwait from Iraqi occupation, restoring stability to the country and its currency.
02/08/1990: Iraqi Invasion of Kuwait
Iraqi forces invaded Kuwait, leading to the Gulf War and causing a significant decline in the value of the Kuwaiti Dinar.
16/09/1980: Iraq-Iran War Begins
The Iraq-Iran War started, leading to economic instability in the region and affecting the value of the Kuwaiti Dinar.
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.
20/10/1975: Kuwait Dinar Pegged to Special Drawing Rights (SDR)
Kuwait pegged its currency to a basket of international currencies known as Special Drawing Rights (SDR) instead of the US Dollar.
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.
02/01/1961: Kuwaiti Dinar Introduced
The Kuwaiti Dinar (KWD) was officially introduced as the currency of Kuwait, replacing the Gulf Rupee.