So you're heading to the "African Caribbean." You’ve seen the photos of Sal’s turquoise water or the jagged peaks of Santo Antão. But then you start looking into the logistics and realize that money for Cape Verde is... weird. Honestly, it’s one of those things that sounds simple on paper and then leaves you standing at a local bakery in Mindelo feeling like a confused tourist.
The official currency is the Cape Verdean Escudo (CVE). You can't get it before you fly. No, really. Unless you happen to know a guy who just came back from Sal with a pocket full of leftovers, you won't find it at your local bank or a Travelex in the airport. It is a "closed" currency. This means the government keeps a tight grip on it, and it isn’t traded on international markets.
The Euro Trap Most Tourists Fall Into
Most people hear that the Escudo is "pegged" to the Euro. It’s a fixed rate. Since 1998, $1$ Euro is worth exactly $110.265$ CVE. Because of this link, almost every shop, taxi, and restaurant on islands like Sal or Boa Vista will happily take your Euros.
But here’s the catch.
While the official rate is 110, the "street" rate—the one used by almost every taxi driver and souvenir shop—is a flat 100 escudos to 1 Euro.
Think about that for a second. By paying in Euros, you are essentially paying a 10% laziness tax on every single purchase. If you spend 500 Euros on a trip using cash, you’ve just handed over 50 Euros for no reason other than not having the right paper in your wallet. It adds up. Fast.
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If you’re staying in a big all-inclusive resort on Sal, sure, you can survive on Euros. But the moment you step out to a local churrascaria or try to buy a bag of coffee at a market, you’re going to want the local stuff.
Getting Cash: The "Vinti4" Reality
You’ll see these bright green signs everywhere that say Vinti4. These are the national ATMs. For the most part, they work well. They accept Visa and Mastercard, but a word of warning: they can be temperamental.
Sometimes they run out of cash on Sunday afternoons. Sometimes they just don't like your specific bank. I've seen travelers try three different machines in Praia before one finally spit out some notes.
There is a withdrawal limit, usually around 20,000 CVE per transaction (roughly 180 Euros). If you need more, you’ll have to put your card back in and do it again. Also, watch out for the fees. Your home bank will likely charge you an international fee, and the local bank might tack on a few hundred Escudos too.
Why you shouldn't rely on plastic
Cape Verde is still very much a cash-heavy society. You can use your card at high-end hotels and the "big" restaurants in Santa Maria. But if you're renting a car from a local guy or buying a ticket for the ferry between São Vicente and Santo Antão, cash is king. Honestly, I’ve been in situations where the "card machine is broken" (which is often code for "I don't want to pay the bank fee").
Navigating the Islands: Cost Variations
Money for Cape Verde goes a lot further depending on where you are.
- Sal and Boa Vista: These are the tourist hubs. Prices are basically European. A dinner for two with wine might cost you 4,000 to 6,000 CVE ($40$–$60$ USD).
- Santiago (Praia): A bit more "real." You can find incredible local lunch spots (prato do dia) for about 500 CVE ($5$ USD).
- Santo Antão or Brava: Much cheaper, but your options for spending money are fewer. You'll spend most of it on alugueres (the shared minibuses) which cost pennies but require exact change.
By the way, if you’re using a taxi, negotiate before you get in. There are no meters. In Sal, a trip from the airport to Santa Maria is usually a flat 15 Euros (or 1,500 CVE). See? There’s that 100-to-1 rate again. If you pay in Escudos, you save.
Tipping and Hidden Costs
Tipping isn’t mandatory like in the US, but it’s appreciated. Most locals don't tip for a coffee or a quick snack. In a proper restaurant, rounding up or leaving 10% is standard.
One thing people often forget is the Airport Security Tax (TSA). If you haven't pre-registered online (which you should do at least five days before arrival), you'll have to pay about 3,400 CVE (roughly 31 Euros) at the border. It’s a frustrating way to start a holiday if you aren't prepared for it.
The "Leftover" Problem
Remember how I said the currency is closed? That becomes a problem on your last day. You cannot exchange Cape Verdean Escudos back into Euros or Dollars once you leave the country. Most exchange bureaus in Europe won't touch them.
The airport exchange desk will change them back for you, but the rate is daylight robbery. My advice? Spend your last few thousand Escudos on a bottle of Grogue (the local sugarcane liquor) or some Fogo coffee at the airport. It's better than having a collection of colorful paper that’s worthless at home.
Actionable Next Steps
- Bring a "Seed" Fund in Euros: Even if you plan to use ATMs, bring 200–300 Euros in cash. It's the ultimate backup and can be exchanged at any bank if the ATMs are down.
- Get a Travel Card: Use something like Wise or Revolut. They usually give you a better mid-market rate when you withdraw from a Vinti4 machine compared to a traditional high-street bank.
- Pay in CVE, Always: Whenever a card machine asks if you want to be charged in your home currency or CVE, choose CVE. The "Dynamic Currency Conversion" they try to pull is a scam designed to hide extra 5% fees.
- Register for the TSA Online: Save yourself the headache and the line at the airport by paying the security tax through the official EASE portal before you fly.
- Split Your Stash: Keep some cash in your wallet and a backup card in your hotel safe. Petty crime isn't huge here, but it’s better to be safe than stuck with zero funds on a remote island.