South African rand cape verdean escudo exchange rate history (ZAR CVE) December 2023

South African rand cape verdean escudo history for December 2023. The highest quote for this month is 5.5058 (14/12/2023) and the lowest 5.5745 (25/12/2023). The difference between high and low is -1.25.

ZAR CVE average rate for December 2023 is 5.44145, the change between 01/12/2023 and 31/12/2023 is -0.14 %.

01 December 2023	1 ZAR = 5.36 CVE
02 December 2023	1 ZAR = 5.44 CVE
03 December 2023	1 ZAR = 5.44 CVE
04 December 2023	1 ZAR = 5.45 CVE
05 December 2023	1 ZAR = 5.42 CVE
06 December 2023	1 ZAR = 5.39 CVE
07 December 2023	1 ZAR = 5.39 CVE
08 December 2023	1 ZAR = 5.43 CVE
10 December 2023	1 ZAR = 5.41 CVE
11 December 2023	1 ZAR = 5.42 CVE
12 December 2023	1 ZAR = 5.37 CVE
13 December 2023	1 ZAR = 5.40 CVE
14 December 2023	1 ZAR = 5.48 CVE
15 December 2023	1 ZAR = 5.62 CVE
16 December 2023	1 ZAR = 5.50 CVE
17 December 2023	1 ZAR = 5.50 CVE
18 December 2023	1 ZAR = 5.53 CVE
19 December 2023	1 ZAR = 5.44 CVE
20 December 2023	1 ZAR = 5.48 CVE
21 December 2023	1 ZAR = 5.51 CVE
22 December 2023	1 ZAR = 5.52 CVE
23 December 2023	1 ZAR = 5.45 CVE
24 December 2023	1 ZAR = 5.43 CVE
25 December 2023	1 ZAR = 5.42 CVE
26 December 2023	1 ZAR = 5.43 CVE
27 December 2023	1 ZAR = 5.36 CVE
28 December 2023	1 ZAR = 5.41 CVE
29 December 2023	1 ZAR = 5.37 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.

23/03/2020: COVID-19 Pandemic Impact

The rand experienced significant volatility and depreciation as a result of the COVID-19 pandemic, affecting the country's economy and trade balance.

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.

15/12/2008: Global Financial Crisis Impact

The rand plunged against major currencies due to the global financial crisis and concerns about South Africa's economic stability.

01/01/2005: Decimalization of the escudo

The Cape Verdean escudo underwent a decimalization process, with the subdivision of 1 escudo into 100 centavos.

09/11/2001: Rand Weakens to Record Low

The rand weakened to an all-time low against the US dollar, due to global economic uncertainty and domestic political concerns.

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.

01/01/1995: Establishment of Reserve Bank Independence

The South African Reserve Bank gained independence, allowing it to have more control over monetary policy.

27/04/1994: First Democratic Elections

The first democratic elections were held in South Africa, marking the end of apartheid and bringing political stability, positively affecting the rand's value.

01/08/1982: Currency Decimalization

The rand was decimalized, with 1 rand being equal to 100 cents.

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.

14/09/1961: Introduction of the Rand

The South African rand was introduced as the official currency, replacing the South African pound.

Historic South African rand Cape Verdean escudo