Yes, CENTAVO is a Scrabble word!

Letter values in Scrabble US: C 3, E 1, N 1, T 1, A 1, V 4, O 1.

Is it a valid word?

CENTAVO is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

a fractional monetary unit of several countries: El Salvador and Sao Tome and Principe and Brazil and Argentina and Bolivia and Colombia and Cuba and the Dominican Republic and Ecuador and El Salvador and Guatemala and Honduras and Mexico and Nicaragua and Peru and the Philippines and Portugal