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Cape Verde
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The Bank of Cape Verde (Portuguese: Banco de Cabo Verde) is Cape Verde's central bank. It is located in the national capital of Praia on Santiago in Cape Verde. It is run by its governor Carlos Burgo. In March 1993, the financial market was opened for private and foreign banks, as long as at least 50% of the workers were Cape Verdean nationals.

In 1999, four Portuguese banks opened offices in Cape Verde: Totta and Acores, Caixa Geral de Depositos, Banco Nacional Ultramarino (BNU), and Banco Mello. The fist totally private bank opened in 1999, the Banco Interatlantico.


The escudo (symbol: Esc/$(cifrão), code: CVE) is Cape Verde’s currency. Amounts are generally written by using $ as the decimal separator, such as 20$00 for 20 escudos, or 1.000$00 for 1000.It is subdivided into 100 centavo. Banknotes currently in circulation are 200, 500, 1000, 2000, 2500 and 5000 escudos. Since the replacement of the Portuguese escudo with the euro, the Cape Verde escudo has been pegged to the euro at a rate of 1 euro = 110.265 escudos. This peg is supported by a credit facility from the Portuguese government. The inflation rate in 2009 was 1%.

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