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Money Transfer Advice

If you are buying a holiday home or investing in property, transferring money to Cape Verde at the best exchange rate can make thousands of pounds difference.

The local currency, the Cape Verdean Escudo, is not traded commercially outside of the islands. Therefore, properties and investments in Cape Verde are priced in Euros.

The value of the Escudo is fixed at €1 = CVE 110.265, so paying for property in Euros does not present any additional exchange rate worries – indeed on the islands themselves goods can be bought interchangeably with either currency, so all local businesses will be used to dealing in Euros.

Anyone sending money to Cape Verde islands therefore has the luxury of dealing in Euros which are easy to get hold of at commercial exchange rates from UK currency brokers. Don’t forget it is nearly always cheaper to use a currency broker than your bank, when sending money overseas in any foreign currency.

In addition, currency brokers can offer fixed rates of exchange up to 2 years ahead. So, if you are buying off plan, you can fix an exchange rate for all your payments through to completion, to give you a fixed price for your property in pounds sterling.

Brokers will also be happy to monitor the markets for you and inform you when there are opportune moments to buy your Euros at a preferential rate