What is the Currency in Cape Verde?

What is the Currency of Cape Verde?

If you’re planning a holiday to Cape Verde—an island nation known for its volcanic landscapes, vibrant culture and beautiful beaches—it’s important to know what currency is used and how to manage your money while visiting. This guide is for UK travellers and explains the official currency, how to exchange money, and what to expect when paying for things in Cape Verde.

What currency does Cape Verde use?

The official currency of Cape Verde is the Cape Verdean Escudo, abbreviated as CVE and often symbolised by $ (not to be confused with the US dollar). The escudo is the only legal tender for everyday transactions across all the islands.

Prices in hotels, restaurants, shops and markets are quoted in escudos, and all payments must be made in CVE unless otherwise stated.

How is the Cape Verdean escudo structured?

The escudo is divided into 100 centavos, though coins of centavo value are rarely used in practice.

Common denominations include:

• Banknotes: 200, 500, 1,000, 2,000 and 5,000 escudos

• Coins: 1, 5, 10, 20, 50 and 100 escudos

The Cape Verdean escudo is pegged to the euro at a fixed rate of 1 EUR = 110.265 CVE, which helps maintain currency stability.

Can you use British pounds or euros in Cape Verde?

Euros are widely accepted in many tourist areas, particularly on the islands of Sal and Boa Vista, where many resorts and excursion operators cater to international visitors. However, you may receive change in escudos, and the rate used may be unfavourable.

British pounds are not accepted, so if you plan to use foreign currency, bring euros, not GBP.

That said, for best value and broader acceptance, it’s best to pay in escudos, especially when shopping at local businesses or travelling beyond the main resort zones.

Should you bring cash or use a card in Cape Verde?

Cape Verde is largely a cash-based economy, particularly outside the main tourist areas. While some hotels and larger businesses accept debit and credit cards (mostly Visa), many shops, restaurants and taxis only take cash.

For this reason, UK travellers should bring cash in euros, which can be exchanged into escudos at local banks or currency exchange offices.

ATMs are available in larger towns and on the more developed islands, but they can be unreliable or limited in rural areas. Use ATMs attached to banks for security and better service.

Tips for managing money in Cape Verde

• Bring euros in cash for exchange or direct use in tourist areas

• Avoid relying solely on card payments—carry enough cash for local spending

• Use official exchange offices or bank branches to convert euros to escudos

• Keep small notes and coins for taxis, tips and small purchases

• Tipping is appreciated but not mandatory—rounding up is common

Common mistakes to avoid

One common error is assuming Cape Verde accepts the euro officially. While it is widely used informally in tourist areas, only the Cape Verdean escudo is legal tender, and using euros outside resort zones may not be possible.

Another mistake is arriving with only pounds. You’ll need to exchange GBP into euros or escudos locally, which may come with high fees. It's more practical to bring euros from the UK and convert some into escudos once you arrive.

In summary

Cape Verde uses the Cape Verdean Escudo (CVE) as its official currency. Euros are informally accepted in tourist areas but not legal tender. For best results, UK travellers should bring euros in cash, exchange some into escudos, and use cash for most daily purchases. Cards are accepted in select locations, but cash remains essential for travel around the islands.