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.
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.
10/09/2008: Introduction of Birr Denominations
Ethiopia introduced new banknotes of different denominations in an effort to combat counterfeiting and improve security features.
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.
27/05/1991: Introduction of Birr Coins
Ethiopia introduced coins for the birr denominations, replacing the previous notes.
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.
17/09/1976: Introduction of New Birr
A new birr was introduced, replacing the previous Ethiopian birr and being equal to 100 old birr.
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.
08/07/1945: Decree to Change Birr Decimalization
Ethiopia changed the birr decimalization from talari and ghersh to dollars and cents.
31/12/1931: Introduction of Ethiopian birr
The Ethiopian birr was introduced as the official currency, replacing the Maria Theresa Thaler.
05/07/1931: Ethiopian Monetary Authority Established
The Ethiopian Monetary Authority was established to regulate the country's monetary system and issue currency.
14/02/1894: Introduction of Maria Theresa Thaler
Ethiopia adopted the Maria Theresa Thaler as the official currency, which remained in circulation until 1935.