Eritrean nakfa cape verdean escudo exchange rate history (ERN CVE) February 2024

Eritrean nakfa cape verdean escudo history for February 2024. The highest quote for this month is 6.8333 (14/02/2024) and the lowest 6.8372 (14/02/2024). The difference between high and low is -0.06.

ERN CVE average rate for February 2024 is 6.78249, the change between 01/02/2024 and 29/02/2024 is -0.37 %.

01 February 2024	1 ERN = 6.74 CVE
02 February 2024	1 ERN = 6.75 CVE
03 February 2024	1 ERN = 6.78 CVE
04 February 2024	1 ERN = 6.78 CVE
05 February 2024	1 ERN = 6.78 CVE
06 February 2024	1 ERN = 6.82 CVE
07 February 2024	1 ERN = 6.81 CVE
08 February 2024	1 ERN = 6.80 CVE
09 February 2024	1 ERN = 6.79 CVE
12 February 2024	1 ERN = 6.80 CVE
13 February 2024	1 ERN = 6.79 CVE
14 February 2024	1 ERN = 6.83 CVE
15 February 2024	1 ERN = 6.83 CVE
16 February 2024	1 ERN = 6.80 CVE
17 February 2024	1 ERN = 6.80 CVE
18 February 2024	1 ERN = 6.80 CVE
19 February 2024	1 ERN = 6.79 CVE
20 February 2024	1 ERN = 6.80 CVE
21 February 2024	1 ERN = 6.77 CVE
22 February 2024	1 ERN = 6.77 CVE
23 February 2024	1 ERN = 6.76 CVE
24 February 2024	1 ERN = 6.76 CVE
25 February 2024	1 ERN = 6.76 CVE
26 February 2024	1 ERN = 6.76 CVE
27 February 2024	1 ERN = 6.75 CVE
28 February 2024	1 ERN = 6.75 CVE
29 February 2024	1 ERN = 6.76 CVE

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.

08/04/2020: COVID-19 impact on currency circulation

Due to the COVID-19 pandemic, circulation of nakfa banknotes decreased as people relied more on digital transactions.

25/02/2019: Introduction of new nakfa banknotes

Eritrea introduced new banknotes in denominations of 5, 10, 20, 50, and 100 nakfa.

30/10/2018: Currency devaluation

Eritrea devalued the nakfa by 14%, reducing its official exchange rate to 1 USD = 15 ERN.

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.

22/01/2015: Dollarization policy imposed

Eritrea imposed a dollarization policy, making the US dollar the predominant currency for most transactions.

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.

14/11/2005: Currency redenomination

The Eritrean nakfa underwent a redenomination where old nakfa notes were replaced with new nakfa notes in a ratio of 1:1,000.

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.

08/11/1997: Introduction of the Eritrean nakfa

The Eritrean nakfa was introduced as the official currency of Eritrea, replacing the Ethiopian birr.

08/11/1997: Currency exchange rate fixed

The Eritrean nakfa was fixed at an exchange rate of 1 USD = 10 ERN.

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.

Historic Eritrean nakfa Cape Verdean escudo