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Cape Verde to introduce new banknotes this month

New banknotes of 500 escudos (US$5.60) and 5,000 escudos will this month start circulating in Cape Verde, according to a report by weekly newspaper A Semana.

The Bank of Cabo Verde said that the new banknotes are part of a new series, which also includes the 200-, 1,000- and 2,000-escudo denominations, which have already been issued in December via the “Vinti4″ ATM network.

The new 500-escudo note honours Jorge Barbosa, a writer and founder of the “Claridade” literary movement and also commemorates his home island, Santiago. The 5,000-escudo note depicts the first president of Cape Verde, Aristides Pereira – who died on September 22, 2011 – and his native island, Boavista.