CVE

AAA

DEFINITION of 'CVE'

The ISO 4217 currency code for the Cape Verde escudo, the official national currency of Cape Verde. The Cape Verde Escudo (CVE) subunit is called the centavo. The dollar symbol ($) is used in lieu of a decimal point, so 20 escudo would be written 20$00. The Banco de Cabo Verde issues the country's currency. It mints coins in 1, 5, 10, 20, 50 and 100 denominations and prints banknotes in 100, 200, 500, 1,000, 2,000, 2,500 and 5,000 denominations.

INVESTOPEDIA EXPLAINS 'CVE'

Cape Verde is a former Portuguese colony and the Cape Verde escudo replaced the former national currency, the Cape Verde real, which was equivalent to the Portuguese real. Portugal has since become a member of the European Union and adopted the euro as its currency. Today the Cape Verde escudo is pegged to the euro.

The currency market, also known as the foreign exchange market, is the largest financial market in the world.

RELATED TERMS
  1. Currency

    A generally accepted form of money, including coins and paper ...
  2. Hard Currency

    A currency, usually from a highly industrialized country, that ...
  3. Forex - FX

    The market in which currencies are traded. The forex market is ...
  4. Money

    An officially-issued legal tender generally consisting of currency ...
  5. Forex Spread Betting

    A category of spread betting that involves taking a bet on the ...
  6. Eurasian Economic Union (EEU)

    An economic union created in 2014 by a treaty signed by Russia, ...
Related Articles
  1. thinkstock|istock
    Options & Futures

    A Primer On The Forex Market

  2. Forex Education

    Currency Exchange: Floating Rate Vs. ...

  3. Personal Finance

    The Currency Board: Understanding The ...

  4. Forex Education

    Top 7 Questions About Currency Trading ...

Hot Definitions
  1. Turkey

    Slang for an investment that yields disappointing results or turns out worse than expected. Failed business deals, securities ...
  2. Conduit Issuer

    An organization, usually a government agency, that issues municipal securities to raise capital for revenue-generating projects ...
  3. Financing Entity

    The party in a financing arrangement that provides money, property, or another asset to an intermediate entity or financed ...
  4. Hyperinflation

    Extremely rapid or out of control inflation. There is no precise numerical definition to hyperinflation. Hyperinflation is ...
  5. Gross Rate Of Return

    The total rate of return on an investment before the deduction of any fees or expenses. The gross rate of return is quoted ...
  6. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
Trading Center