Historic South Korean Won Cape Verdean escudo

South Korean Won cape verdean escudo history for February 2024. The highest quote for this month is 0.077172 (07/02/2024) and the lowest 0.07922 (09/02/2024). The difference between high and low is -2.65.

KRW CVE average rate for February 2024 is 0.07671, the change between 01/02/2024 and 29/02/2024 is -0.27 %.

01 February 20241 KRW = 0.0761 CVE
02 February 20241 KRW = 0.0765 CVE
03 February 20241 KRW = 0.0763 CVE
04 February 20241 KRW = 0.0763 CVE
05 February 20241 KRW = 0.0764 CVE
06 February 20241 KRW = 0.0770 CVE
07 February 20241 KRW = 0.0773 CVE
08 February 20241 KRW = 0.0771 CVE
09 February 20241 KRW = 0.0769 CVE
12 February 20241 KRW = 0.0769 CVE
13 February 20241 KRW = 0.0770 CVE
14 February 20241 KRW = 0.0767 CVE
15 February 20241 KRW = 0.0775 CVE
16 February 20241 KRW = 0.0772 CVE
17 February 20241 KRW = 0.0770 CVE
18 February 20241 KRW = 0.0770 CVE
19 February 20241 KRW = 0.0768 CVE
20 February 20241 KRW = 0.0767 CVE
21 February 20241 KRW = 0.0765 CVE
22 February 20241 KRW = 0.0765 CVE
23 February 20241 KRW = 0.0767 CVE
24 February 20241 KRW = 0.0765 CVE
25 February 20241 KRW = 0.0765 CVE
26 February 20241 KRW = 0.0765 CVE
27 February 20241 KRW = 0.0763 CVE
28 February 20241 KRW = 0.0763 CVE
29 February 20241 KRW = 0.0763 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.

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.

27/10/2008: Global Financial Crisis

The Korean Won faced significant volatility during the global financial crisis, as global markets tumbled and investor confidence wavered.

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: Establishment of IMF Program

South Korea agreed to an International Monetary Fund (IMF) bailout package, which stabilized the value of the Korean Won and initiated economic reforms.

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.

03/12/1997: Asian Financial Crisis

The Korean Won experienced a sharp depreciation during the Asian Financial Crisis, causing severe economic hardships and requiring international assistance.

27/02/1980: Declaration of Martial Law

Amidst political turmoil, President Chun Doo-hwan declared martial law, causing economic instability and impacting the value of the Korean Won.

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.

22/06/1962: Introduction of the Hwan

To combat inflation, the South Korean government introduced the Hwan as the new currency, replacing the old Korean Won.

27/07/1953: Armistice Agreement

Following the Korean War, the Armistice Agreement was signed, stabilizing the region and aiding in the recovery of the Korean Won.

15/08/1945: Liberation from Japanese Rule

Upon the end of Japanese colonial rule, the Korean Won was introduced as the official currency of South Korea.
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