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.
30/03/2020: SGD in COVID-19 Pandemic
The SGD faces volatility and fluctuations in value due to the economic impact of the COVID-19 pandemic.
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.
13/10/2016: Celebrating 50 Years of Currency
Singapore commemorates 50 years of Singapore currency, showcasing the success and stability of the SGD.
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.
21/07/2003: Currency Interchangeability Agreement with Brunei
The SGD and Brunei dollar become interchangeable at par value, enhancing economic cooperation between the two countries.
02/01/2001: Floatation of SGD
Singapore allows the SGD to float freely against other currencies, abandoning the exchange rate peg and adopting a managed float system.
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.
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.
01/03/1973: Pegging to a Basket of Currencies
The SGD is pegged to a basket of currencies, leading to increased stability and reduced reliance on a single currency.
12/06/1967: Monetary Agreement with Malaysia
Singapore withdrew from the Malaysian dollar and issued its own currency.
12/06/1965: Independence of Singapore
The Singapore dollar (SGD) is introduced as the official currency upon Singapore's separation from Malaysia.