Convert Cape Verdean Escudo to Cuban Convertible Peso
Please provide values below to convert Cape Verdean Escudo [CVE] to Cuban Convertible Peso [CUC], or Convert Cuban Convertible Peso to Cape Verdean Escudo.
How to Convert Cape Verdean Escudo to Cuban Convertible Peso
1 CVE = 93.9877 CUC
Example: convert 15 CVE to CUC:
15 CVE = 15 × 93.9877 CUC = 1409.8155 CUC
Cape Verdean Escudo to Cuban Convertible Peso Conversion Table
| Cape Verdean Escudo | Cuban Convertible Peso |
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Cape Verdean Escudo
The Cape Verdean Escudo (CVE) is the official currency of Cape Verde, used for all monetary transactions within the country.
History/Origin
Introduced in 1914, the Escudo replaced the Cape Verdean real and has undergone various reforms, with the current version established in 1992 to stabilize the economy and modernize the currency system.
Current Use
The CVE is actively used as the legal tender in Cape Verde, with banknotes and coins circulating nationwide, and it is pegged to the Euro at a fixed rate for stability.
Cuban Convertible Peso
The Cuban Convertible Peso (CUC) was a currency used in Cuba, primarily for tourism and foreign transactions, pegged to the US dollar.
History/Origin
Introduced in 1994 to replace the peso convertible, the CUC was used alongside the Cuban peso (CUP). It facilitated foreign trade and tourism. The CUC was phased out starting in 2020 as part of Cuba's monetary unification efforts, with its value being absorbed into the CUP.
Current Use
The CUC is no longer in circulation as of 2021. Cuba has transitioned to a single currency system using the Cuban peso (CUP), and the CUC is considered obsolete.