Cape Verdean escudo south african rand exchange rate history (CVE ZAR) February 2024

Cape Verdean escudo south african rand history for February 2024. The highest quote for this month is 0.19025 (23/02/2024) and the lowest 0.18944 (26/02/2024). The difference between high and low is 0.43.

CVE ZAR average rate for February 2024 is 0.18575, the change between 01/02/2024 and 29/02/2024 is -3.2 %.

01 February 2024	1 CVE = 0.1834 ZAR
02 February 2024	1 CVE = 0.1826 ZAR
03 February 2024	1 CVE = 0.1851 ZAR
04 February 2024	1 CVE = 0.1849 ZAR
05 February 2024	1 CVE = 0.1847 ZAR
06 February 2024	1 CVE = 0.1856 ZAR
07 February 2024	1 CVE = 0.1834 ZAR
08 February 2024	1 CVE = 0.1846 ZAR
09 February 2024	1 CVE = 0.1853 ZAR
12 February 2024	1 CVE = 0.1855 ZAR
13 February 2024	1 CVE = 0.1847 ZAR
14 February 2024	1 CVE = 0.1854 ZAR
15 February 2024	1 CVE = 0.1852 ZAR
16 February 2024	1 CVE = 0.1848 ZAR
17 February 2024	1 CVE = 0.1837 ZAR
18 February 2024	1 CVE = 0.1837 ZAR
19 February 2024	1 CVE = 0.1840 ZAR
20 February 2024	1 CVE = 0.1851 ZAR
21 February 2024	1 CVE = 0.1854 ZAR
22 February 2024	1 CVE = 0.1854 ZAR
23 February 2024	1 CVE = 0.1881 ZAR
24 February 2024	1 CVE = 0.1894 ZAR
25 February 2024	1 CVE = 0.1896 ZAR
26 February 2024	1 CVE = 0.1897 ZAR
27 February 2024	1 CVE = 0.1890 ZAR
28 February 2024	1 CVE = 0.1876 ZAR
29 February 2024	1 CVE = 0.1893 ZAR

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.

23/03/2020: COVID-19 Pandemic Impact

The rand experienced significant volatility and depreciation as a result of the COVID-19 pandemic, affecting the country's economy and trade balance.

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.

15/12/2008: Global Financial Crisis Impact

The rand plunged against major currencies due to the global financial crisis and concerns about South Africa's economic stability.

01/01/2005: Decimalization of the escudo

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

09/11/2001: Rand Weakens to Record Low

The rand weakened to an all-time low against the US dollar, due to global economic uncertainty and domestic political concerns.

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.

01/01/1995: Establishment of Reserve Bank Independence

The South African Reserve Bank gained independence, allowing it to have more control over monetary policy.

27/04/1994: First Democratic Elections

The first democratic elections were held in South Africa, marking the end of apartheid and bringing political stability, positively affecting the rand's value.

01/08/1982: Currency Decimalization

The rand was decimalized, with 1 rand being equal to 100 cents.

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.

14/09/1961: Introduction of the Rand

The South African rand was introduced as the official currency, replacing the South African pound.

Historic Cape Verdean escudo South African rand