Cape Verde aims to keep euro peg credible
The Bank of Cape Verde will continue to target its monetary policy towards keeping its currency 'credibly' pegged to the euro.
The Cape Verdean escudo is pegged to the euro at a rate of around 110:1. The long-term trend is very much in line with this peg, but the central bank has to frequently battle with short-term volatility. In January, the escudo appreciated 3% above its peg, but was quickly brought back down.
Since 2011, the central bank has imposed tighter conditions of access on its
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