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.
15/04/2019: Coronation of King Rama X
King Maha Vajiralongkorn's coronation ceremony took place, affirming stability and continuity in the monarchy.
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.
19/09/2006: 2006 Thai coup d'état
The military staged a coup overthrowing the government, causing political instability and affecting 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.
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.
02/07/1997: Asian Financial Crisis
The Thai baht was devalued triggering the Asian financial crisis, resulting in economic recession and structural reforms.
01/01/1980: Currency Floatation
The Thai baht was shifted from a fixed to a floating exchange rate system, leading to increased volatility.
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.
14/10/1973: October 14 Uprising
A popular uprising against the military dictatorship led to political reforms and an increase in public participation.
01/01/1942: Japanese Occupation
During World War II, Thailand was occupied by Japan, leading to the introduction of Japanese-sponsored banknotes.
24/06/1932: Siamese Revolution
The Siamese Revolution resulted in the establishment of a constitutional monarchy, marking the beginning of political changes in Thailand.