Eritrean nakfa

Eritrean nakfa

1 nakfa banknote
ISO 4217
Code	ERN (numeric: 232)
Subunit	0.01
Unit
Symbol	Nfk‎
Denominations
Subunit
1/100	cent
Banknotes	1, 5, 10, 20, 50, 100 nakfa
Coins	1, 5, 10, 25, 50 cents, 1 nakfa
Demographics
User(s)	Eritrea
Issuance
Central bank	Bank of Eritrea
Valuation
Inflation	18%
Source	The World Factbook, 2008 est.
Pegged with	U.S. dollar = 15 nakfa

The nakfa (ISO 4217 code: ERN) is the currency of Eritrea. It is divided into 100 cents. The currency was introduced on 8 November 1997 to replace the Ethiopian birr at par, and it was named after the town of Nakfa.

For an earlier currency of Eritrea, see tallero.

Coins

Coins are made entirely of Nickel clad Steel. Each coin has a different reeded edge, instead of consistent reeding for all denominations. The 1 nakfa coin carries the denomination "100 cents".

Coin denominations:

• 1 cent
• 5 cents
• 10 cents
• 25 cents
• 50 cents
• 100 cents (1 nakfa)

Banknotes

The back of the five Nakfa bank note with the actual tree shown above it.

Banknotes come in denominations of:

• 1 nakfa
• 5 nakfa
• 10 nakfa
• 20 nakfa
• 50 nakfa
• 100 nakfa

There are three issues of banknotes. The first issue of all denominations is dated 24.5.1997; the second issue consists of only the 50- and 100-nakfa notes and is dated 24.5.2004; the third issues also consists of only the 50- and 100-nakfa notes and is dated 24.5.2011 (May 24 is Eritrea's Independence Day).

Current ERN exchange rates
From Google Finance:	AUD CAD CHF CNY EUR GBP HKD JPY USD
From Yahoo! Finance:	AUD CAD CHF CNY EUR GBP HKD JPY USD
From XE.com:	AUD CAD CHF CNY EUR GBP HKD JPY USD
From OANDA:	AUD CAD CHF CNY EUR GBP HKD JPY USD

The nakfa has been pegged with the United States dollar at 1 dollar = 15 nakfa since January 1, 2005.

See also

• Economy of Eritrea

External links

• Regulations concerning the nakfa from Afrol news

Preceded by: Ethiopian birr Reason: currency independence Ratio: at par

Currency of Eritrea 1997 –

Succeeded by: Current