"Cape Verde monetary unit" refers to the currency used in the small island nation of Cape Verde, located off the western coast of Africa. The Cape Verde monetary unit is also known as the Cape Verdean escudo, which is divided into 100 centavos. Other synonyms for the Cape Verde monetary unit include the CVE, CVD, escudo, and escudo de Cabo Verde. The Cape Verdean escudo is used for daily transactions within the country and is not widely accepted outside of Cape Verde. Despite being a small and relatively unknown currency, the Cape Verde monetary unit holds significant value for those residing within the country.