Boa Vista Cape Verde

Money

The unit of currency in Cape Verde is the Cape Verde Escudo (CVE) or $.

1 CVE = 100 centavos, however centavos are not used!

Notes are in the denominations of 5,000CVE, 2,500CVE, 2,000CVE, 1,000CVE, 500CVE, 200CVE and 100CVE. Coins are denominated 200CVE, 100CVE, 50CVE, 20CVE, 10CVE and 1CVE.

The CVE is fixed to the Euro (€). 1€ = 110.265 CVE.

At present Sal Rei has three banks, the Banco Commercial do Atlantico (BCA) on the square (map ref 28), the Banco Caboverdiano Negocias (BCN) (map ref 15), also on the square, and the Bank Interatlantico on the road to Rabil (map ref 66). They all have an ATM (called Caixa Vinti4), where you can cash CVEs on an international visa card and an Euro mastercard. A limit of 20,000CVE per day is in force. There are also banking facilities available at the International Airport Terminal to cater for international visitors.

Banks are closed Saturdays and Sundays. Weekdays they are open from 8am to 3pm. Expect long queues/delays at the bank. Credit cards are generally not accepted in shops, it is usual that only cash is accepted (for now at least). The Euro is accepted in shops and on taxis, however usually at the rate 100CVE to 1€. Larger hotels do accept visa/mastercards, however it is common for the connection to be down! Traveller’s cheques are cumbersome and not recommended, you usually need the receipt to prove purchase.

There is no restriction on the amount of currency brought into Cape Verde. CVEs cannot be exchanged outside Cape Verde, thus it is advisable to exchange/spend them before leaving the country. It is preferable to draw CVEs from the Caixa Vinti4, rather than over the bank counter, commissions can be substantial.

A useful tip for UK visitors, the Nationwide current account does not charge a cash withdrawal fee, if you use the free visa debit card that comes with the account!