The Cartadanian escudo (sign: €; code: CRE) is the official currency of Cartadania and its territories. It is subdivided into 100 centavos. The Cartadanian Federal Reserve is the central bank and the issuing authority. The escudo officially replaced the Peso on 6 September 1694. It is also used by Ceylonia and many places with large Cartadanian communities. It was formerly used in Galicia but has sense been phased out of usage in favor of a local currency.