The Cape Verde currency, known as the Cape Verdean escudo, has a fascinating history of exchange rates with the Nigerian naira. The Cape Verdean escudo has been pegged to the euro since 1999, which has had a significant impact on its exchange rate with the naira.
Historically, the exchange rate between the Cape Verdean escudo and the naira has been relatively stable, with a fixed rate of 1 CVE = 0.014 NGN in 2005. This rate has fluctuated over the years, but it remains one of the most stable exchange rates in West Africa.
Cape Verde's strong economic growth and stable government have contributed to the naira's strength against the Cape Verdean escudo. In recent years, the naira has appreciated against the escudo, with a current exchange rate of 1 CVE = 0.018 NGN.
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Exchange Rates
The Cape Verde exchange rate is fixed at 1 EUR = 111 CVE, making it easy to exchange and spend money during your stay in Cape Verde.
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If you're looking to exchange Cape Verdean escudos for Nigerian nairas, the highest rate in the last year was 16.936 Nigerian nairas per Cape Verde escudo on September 30, 2024.
The lowest CVE to NGN exchange rate in the last year was 8.5908 Nigerian nairas per Cape Verde escudo on January 18, 2024.
You can also check the conversion rates for various amounts of Cape Verde escudos to Nigerian nairas. Here's a handy table to help you:
The highest CVE to NGN exchange rate in the last 10 years was on September 30, 2024, when each Cape Verde escudo was worth 16.936 Nigerian nairas.
Conversion Chart
The Cape Verde Escudo to Nigerian Naira Conversion Chart is a valuable tool for anyone looking to convert their currency. It shows data from 2024-1-11 to 2025-1-10.
The average exchange rate over this period was 14.630 Nigerian Nairas per Cape Verde Escudo. This means that if you had 1,000 Cape Verde Escudos, you could exchange it for approximately 14,630 Nigerian Nairas.
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To give you a better idea of the exchange rates, here is a conversion chart showing the equivalent values of different amounts of Cape Verde Escudos in Nigerian Nairas:
Keep in mind that exchange rates can fluctuate, so it's always a good idea to check the current rate before making any conversions.
Money Availability
ATMs are readily available in Cape Verde, especially in larger towns and tourist areas.
You can easily withdraw local currency with an English language option usually available.
Some ATM operators may charge withdrawal fees, and your bank may also add a transaction cost.
Check possible costs with your card issuer before departure if you plan to use a credit or debit card in Cape Verde.
In smaller, more remote areas of the islands, it's best to stock up with cash before you go, as there may not be a working ATM in your destination.
Comparison and Trends
The Cape Verde Escudo is stronger than the Nigerian Naira, with 1 CVE being equal to 14.440 NGN.
If you're planning a trip to Cape Verde or Nigeria, it's essential to know the current exchange rate to avoid any financial surprises.
Currently, 1 NGN is worth 0.06925 CVE, which is a significant difference between the two currencies.
For more insights, see: Fx Rate Nigeria
Last Year's Highest Exchange Rate
The highest CVE to NGN exchange rate in the last year was 16.936 Nigerian Nairas per Cape Verde Escudo. This was recorded on September 30, 2024, making it a notable milestone in the currency exchange market.
This high point is a significant fact to note, especially for individuals or businesses that frequently exchange or convert currencies.
Comparing Naira Strength
The Cape Verde Escudo is currently stronger than the Nigerian Naira, as 1 CVE is equal to 14.440 NGN.
This means that if you're traveling to Cape Verde and have Nigerian Nairas, you can exchange them for a stronger currency, the Cape Verde Escudo.
The fixed exchange rate between the Cape Verdean escudo and the euro is 1 EUR = 111 CVE, making it easy to exchange and spend money during your stay in Cape Verde.
Conversely, 1 NGN is worth 0.06925 CVE, highlighting the weaker value of the Nigerian Naira compared to the Cape Verde Escudo.
Related reading: Australian Dollar to Nigerian Naira
The high point for the CVE/NGN rate was 16.936 Nigerian Nairas per Cape Verde Escudo on September 30, 2024, but even at this rate, the Cape Verde Escudo remains stronger.
To put this into perspective, if you had 100 Nigerian Nairas on September 30, 2024, you could exchange them for approximately 5.936 Cape Verde Escudos at the highest rate of the year.
Highest Exchange Rate in the Last 10 Years
In the last 10 years, the highest rate from Cape Verde Escudos to Nigerian Nairas was on September 30, 2024 when each Cape Verde Escudo was worth 16.936 Nigerian Nairas.
This is a significant milestone, especially for those who have been following the exchange rate trends between these two currencies.
The highest CVE to NGN exchange rate in the last 10 years was indeed a notable achievement, and it's interesting to see how exchange rates can fluctuate over time.
Curious to learn more? Check out: Highest Exchange Rate to Usd
Sources
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