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

Cape Verdean escudo south african rand history for January 2024. The highest quote for this month is 0.18955 (22/01/2024) and the lowest 0.18777 (22/01/2024). The difference between high and low is 0.94.

CVE ZAR average rate for January 2024 is 0.18572, the change between 01/01/2024 and 31/01/2024 is -0.8 %.

01 January 2024	1 CVE = 0.1832 ZAR
02 January 2024	1 CVE = 0.1833 ZAR
03 January 2024	1 CVE = 0.1861 ZAR
04 January 2024	1 CVE = 0.1854 ZAR
05 January 2024	1 CVE = 0.1855 ZAR
06 January 2024	1 CVE = 0.1866 ZAR
07 January 2024	1 CVE = 0.1866 ZAR
08 January 2024	1 CVE = 0.1853 ZAR
09 January 2024	1 CVE = 0.1846 ZAR
10 January 2024	1 CVE = 0.1849 ZAR
11 January 2024	1 CVE = 0.1854 ZAR
12 January 2024	1 CVE = 0.1855 ZAR
14 January 2024	1 CVE = 0.1850 ZAR
15 January 2024	1 CVE = 0.1850 ZAR
16 January 2024	1 CVE = 0.1853 ZAR
17 January 2024	1 CVE = 0.1870 ZAR
18 January 2024	1 CVE = 0.1880 ZAR
19 January 2024	1 CVE = 0.1867 ZAR
22 January 2024	1 CVE = 0.1878 ZAR
23 January 2024	1 CVE = 0.1897 ZAR
24 January 2024	1 CVE = 0.1859 ZAR
25 January 2024	1 CVE = 0.1866 ZAR
26 January 2024	1 CVE = 0.1862 ZAR
28 January 2024	1 CVE = 0.1852 ZAR
29 January 2024	1 CVE = 0.1848 ZAR
30 January 2024	1 CVE = 0.1841 ZAR
31 January 2024	1 CVE = 0.1847 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