Cape Verde currency, money and prices

What is the currency of Cape Verde?

The currency of Cabo Verde is the Cape Verdean escudo, code CVE, issued by the central bank, the Banco de Cabo Verde. Banknotes come in 200, 500, 1,000, 2,000 and 5,000 escudos, and coins in 1, 5, 10, 20, 50, 100 and 200 escudos.

Prices are often written in the Portuguese style, with the sign $ in place of the decimal point: 1.500$00 means 1,500 escudos, not dollars. Menus in tourist areas usually show escudos and euros side by side.

The fixed peg to the euro

Since 1999 the escudo has been pegged to the euro at 110.265 escudos per euro, under an exchange-rate cooperation agreement between Cabo Verde and Portugal; before the euro it was tied to the Portuguese escudo. The Banco de Cabo Verde still lists the euro at exactly 110.265 escudos, so the rate does not change from one trip to the next.

For quick sums, divide escudo prices by 110, or more roughly by 100 and take off a tenth: 1,000 escudos is about €9, 5,000 escudos about €45, and €20 is about 2,200 escudos. The pound and the dollar are not pegged, so their rate against the escudo moves with their rate against the euro.

Can you pay in euros in Cape Verde?

On Sal and Boa Vista, many hotels, tour operators, restaurants and shops in the tourist areas accept euro notes, and excursions and transfers are often priced in euros. Change is normally given in escudos, and some places round the rate to 100 escudos per euro, which costs you around 10%. Small coins and large notes are both awkward, so bring €5, €10 and €20 notes.

Away from the resorts, in markets, local cafés, aluguer minibuses and on islands such as Santiago, Santo Antão or Fogo, expect to pay in escudos. Escudos are hard to obtain before you travel and hard to change back at home, so get them on arrival and spend or exchange what is left before you fly home.

Cards and ATMs

ATMs are found at the international airports and in the main towns: Santa Maria and Espargos on Sal, Sal Rei on Boa Vista, Praia, Mindelo and the larger towns elsewhere. Most belong to the local Vinti4 network and work with foreign Visa and Mastercard cards; American Express is rarely accepted. Machines can run out of cash at weekends, each withdrawal is limited and a fee per withdrawal is common, so take out larger sums less often and check your own bank's foreign charges.

Hotels, larger restaurants, supermarkets and tour desks usually take cards, sometimes with a surcharge or a minimum amount. Small bars, taxis and many shops on the smaller islands are cash only. If a card machine or ATM offers to charge you in euros or pounds instead of escudos, choose escudos: the conversion offered is usually worse than your bank's. On the smaller islands, carry enough cash for a few days.

Tipping in Cape Verde

Tipping is appreciated but not expected in the way it is in some countries. In restaurants, around 10% for good service is usual where service is not already included. Round up taxi fares, give small change to porters and hotel staff, and tip guides and boat crews on a good day out, for example a few euros per person on a half-day excursion. All-inclusive guests often leave a tip for housekeeping or bar staff at the end of their stay.

Typical prices in Cape Verde

Cape Verde imports most of its food and fuel, so it is not as cheap as many travellers expect, and prices on the Santa Maria beachfront are well above those in local neighbourhoods. As a rough guide, based on prices reported by visitors and residents: an espresso or a cappuccino costs about €1-3 (110-330 escudos), a beer in a bar about €2-4.50, a simple local meal such as cachupa, the national stew of maize and beans, about €5-10, and a three-course dinner for two in a mid-range restaurant from about €30 without drinks. A 1.5-litre bottle of water in a supermarket costs around €1.

Inter-island travel adds up quickly. Flights and ferries between islands, and the onward trips needed to reach Fogo or Santo Antão, often cost more than visitors expect; see island hopping. Excursion prices are shown with each tour.

A Cape Verde holiday on a budget

Low-cost holidays to Cape Verde are possible if you plan around the calendar. Travel outside school holidays, in May and June or from late September to November, when packages and flights are usually cheapest; the best time to visit compares the months. An all-inclusive package on Sal or Boa Vista can be good value if you plan to stay mostly at the resort; if you want to explore, a room in town and meals in local restaurants usually cost less. Our where to stay guide compares the options.

Shared aluguer minibuses are much cheaper than taxis between towns, supermarket water and snacks cost a fraction of beach-bar prices, and the beaches themselves are free. Before you go, read the visa and EASE fee guide: the airport security fee is paid on top of your package.