18/01/2021: Suspension of Eco adoption
The Central Bank of the Comoros suspended the adoption of the Eco currency, retaining the Comorian Franc as the official currency.
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.
01/01/2019: Replacement of the Franc by the Eco
Comoros agreed to replace the Comorian Franc with the proposed Eco currency, along with other West African countries.
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.
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.
01/07/1997: Revaluation of the Comorian Franc
The Comorian Franc was revalued at a ratio of 1 new Franc to 75 old Francs, reducing the value of the currency.
20/06/1994: Introduction of the New Comorian Franc
Comoros introduced a new series of banknotes and coins, replacing the old Comorian Franc.
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.
01/01/1976: Establishment of the Central Bank of Comoros
The Central Bank of Comoros was established to manage the monetary policies and issue the Comorian Franc.
06/07/1975: Independence of Comoros
Comoros gained independence from France, but continued using the Comorian Franc as its currency.
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.
01/01/1920: Introduction of the Comorian Franc
The Comorian Franc was introduced as the official currency of Comoros by the French colonial administration.