Money, Budget, and Shopping in Cape Verde

Money

Currency

• Currency: Cape Verdean escudo.

• Banknotes: 200, 500, 1,000, 2,000, and 5,000 escudos.

• Coins: 1, 5, 10, 20, 50, 100, and 200 escudos.

• Exchange:

Exchanging Money

It’s easy to exchange money in Cape Verde for major currencies, especially in tourist areas. Banks, a few exchange bureaus (such as at the international airport), and ATMs are available for this purpose.

When exchanging money, it’s useful to know that the Cape Verdean escudo is pegged to the euro at a fixed rate of around 1 € = 110 escudos. However, this rate isn’t always respected everywhere or in every situation, and commissions can also lower it.

Which Currency to Bring

If you live in the Eurozone, it’s obvious to bring euros, including small denominations in good condition. These can often be used as a means of payment in many situations once you’re there.

Payment Methods

Generally, it’s best to always have cash and small change on hand to cover daily expenses and small purchases. Card payments, on the other hand, can be used for hotels, inter-island transport, vehicle rentals, and in some shops in tourist areas.

Note that the euro is widely accepted on the most touristy islands like Sal or Boa Vista, and quite common elsewhere too. This means you can pay directly in euros for your purchases, though the rate of 1 € for 110 escudos sometimes becomes 1 € for 100 escudos...

Returning Home

Since the Cape Verdean escudo isn’t convertible abroad, there’s no point in bringing any home.

So, plan to spend everything or exchange your escudos back into euros before leaving, even if the exchange rate for such transactions may not be the most favorable. In any case, especially if the amount is large, keep your previous exchange receipts to justify the origin of the money you want to exchange.

Budget

Contrary to what one might think, Cape Verde isn’t necessarily a "cheap" destination. As always, costs depend on what you plan to do and which island(s) you choose—Sal, being the most touristy, is also the most expensive.

That said, as a budget traveler, with around 40 to 50 € per day per person for a trip for two, using public transport, eating at markets or small restaurants, and staying in mid-range hotels, you’ll manage just fine. Even so, an extra 20 € per day will give you more flexibility.

What Can Be Expensive

• The island of Sal, which remains the most touristy, especially in its southern part where the hotel complexes are located.

• The high season, from December to March, when prices rise by 20 or 25%.

• Inter-island air travel, especially if you book last minute.

• Frequent travel between islands, including by boat.

What Can Be Affordable

• Everything local in terms of transport, meals, or accommodation.

• The least touristy islands (obviously).

• Inter-island travel by ferry, even if the journey can sometimes be a bit long.

Price Range

• Budget double room: around 20 €.

• Mid-range double room: 40 to 50 €.

• Local restaurant meal: 5 to 10 €.

• Tourist restaurant meal: 15 to 20 €.

• Aluguer (shared van): around 1 to 2 € for short trips.

• Inter-island flight or ferry: expect a ratio of 1 to 3 or 4 between air and sea travel.

Haggling

While haggling isn’t necessarily a big part of Cape Verdean culture, you can always negotiate when buying souvenirs at markets or from street vendors, or even when hiring a guide or renting a vehicle.

Tipping

Since wages are low for many in the archipelago, tips are especially appreciated, particularly in tourist areas, even if they aren’t "mandatory." It’s customary to leave around 10% of the bill at restaurants if service isn’t included. For taxi drivers or services (like car parking attendants), giving the equivalent of just under 1 € will suffice, including for daily housekeeping in hotels. For guides, it depends on the quality of the service.

In any case, while you can be generous, there’s no need to leave disproportionately large tips like those you might leave in Europe or North America. The amount of a tip, no matter the country, should reflect the service provided and the local cost of living. This is true even if some recipients might pressure you for much more.

Shopping and Souvenirs

What to Bring Back

There’s a small Cape Verdean craft industry, especially on the island of São Vicente, with weaving, lace, and embroidery, as well as woven baskets and various objects made from shells, bones, or coconut.