Money & Banks in Cape Verde

The Cape Verde's currency is the Cape Verde escudo (ECV). Banknotes are available in denominations of 200, 500, 1000, 2000 and 5000 escudos. Circulating coins come in denominations of 1, 5, 10, 20, 50 and 100 escudos.

The escudo is indexed to the euro and follows its exchange rate, meaning that if the euro rises, so does the escudo. One euro (€1) is equivalent to approximately 110 escudos.

Transporting money to Cape Verde

You must declare to Customs, on entering and leaving the country, if you are traveling with money, metals or precious stones with a value equal to or greater than 1,000,000$00 (one million escudos) or its equivalent in another currency.

The exit or export of national banknotes and coins is free up to a limit of 20,000$00 (twenty thousand escudos). For larger amounts, special prior authorization from the Bank of Cape Verde is required, subject to justification.

For more information on foreign exchange transactions for travelers, please consult the Bank of Cape Verde guidelines.

Currency exchange in Cape Verde

Currency exchange in Cape Verde is available at international airports, local banks and some travel agencies.

In general, it is not possible to exchange escudos abroad, so avoid returning with high values.  

The commercial exchange rates in force in Cape Verde can be found at here.

Bank opening hours in Cabo Verde

Generally speaking, banks in Cape Verde are open from Monday to Friday from 08:00-15:00.

Credit cards in Cape Verde

Credit cards Visa, MasterCard and American Express are officially accepted in Cape Verde. They can be used to pay in large hotels and restaurants, especially in larger cities.

In the countryside and smaller towns, it may not be possible to pay with international cards. As a precaution, it is always advisable to have some cash on hand. The euro is the most widely used international currency in Cape Verde. Some stores on the islands of Sal and Boavista accept payment in euros. 

You can get money from credit cards at banks, but the fees tend to be high.

ATMs (in Cape Verde)

There are ATMs on all of Cape Verde's islands (called Vinti4 boxes). However, they are less frequent in the smaller towns and are mainly concentrated in the centers. Smaller or remote towns generally don't have ATMs and may not accept credit cards. Always carry some cash for trips out of town.

Frequently asked questions:

• Can you use euros in Cape Verde?

The euro is commonly accepted on the islands of Sal and Boavista. On the other islands it is less common for euros to be accepted in stores, but bureaux de change are available on all the islands. 

• What is the best currency to bring to Cape Verde?

The euro is the best currency to take to Cape Verde because it is the most widely used currency and because the escudo is indexed to it, meaning that if the euro goes up, so does the escudo.

You may want to convert some travel money into euros if you are planning to visit Cape Verde.