Convert Saudi Riyal to Cape Verdean Escudo
Please provide values below to convert Saudi Riyal [SAR] to Cape Verdean Escudo [CVE], or Convert Cape Verdean Escudo to Saudi Riyal.
How to Convert Saudi Riyal to Cape Verdean Escudo
1 SAR = 0.0398988378266518 CVE
Example: convert 15 SAR to CVE:
15 SAR = 15 × 0.0398988378266518 CVE = 0.598482567399777 CVE
Saudi Riyal to Cape Verdean Escudo Conversion Table
| Saudi Riyal | Cape Verdean Escudo |
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Saudi Riyal
The Saudi Riyal (SAR) is the official currency of Saudi Arabia, used for all monetary transactions within the country.
History/Origin
The Saudi Riyal was introduced in 1925, replacing the Indian Rupee, and has undergone various reforms, including decimalization in 1929. It is issued and regulated by the Saudi Central Bank.
Current Use
The SAR is widely used in Saudi Arabia for everyday transactions, banking, and international trade, and is pegged to the US dollar at a fixed rate.
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.