Cape Verdean escudo (CVE)

The Cape Verdean escudo, identified by the ISO 4217 code CVE and symbol $ or Esc, is the official currency of the Republic of Cabo Verde. Introduced in 1914 to replace the Cape Verdean real, it is issued by the Bank of Cape Verde. Since 1998, the escudo has maintained a fixed peg to the Portuguese escudo and subsequently the euro via a bilateral accord with Portugal, providing macroeconomic stability for the island nation.