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.
28/06/2019: Withdrawal of the $2 note
The Central Bank of Solomon Islands announced the withdrawal of the $2 note from circulation, promoting the use of coins instead.
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.
02/01/2012: Introduction of polymer banknotes
The Central Bank of Solomon Islands issued polymer banknotes to replace the paper ones, enhancing durability and security.
02/05/2011: Renewal of currency design
The Central Bank of Solomon Islands introduced new banknotes with enhanced security features and a refreshed design.
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.
22/03/1993: Introduction of the $2 coin
The $2 coin was introduced as a new denomination of the Solomon Islands Dollar.
25/01/1979: Monetary Authority Act
The Monetary Authority Act was passed, establishing the Central Bank of Solomon Islands as the sole issuer and regulator of the SBD.
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.
06/07/1977: Introduction of the Solomon Islands Dollar
The Solomon Islands Dollar was introduced as the official currency replacing the Australian Dollar at a rate of 1:1.
07/06/1977: Independence of Solomon Islands
Solomon Islands gained independence from British rule, establishing the need for their own currency, the Solomon Islands Dollar (SBD).
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.