Eritrean nakfa
| Eritrean nakfa | |
|---|---|
1 nakfa banknote
|
|
| ISO 4217 code | ERN |
| Central bank | Bank of Eritrea |
| User(s) | |
| Inflation | 18% |
| Source | The World Factbook, 2008 est. |
| Pegged with | U.S. dollar = 10 nakfa |
| Subunit | |
| 1/100 | cent |
| Symbol | Nfk (Latin Script) ናቕፋ (Ethiopic Script) |
| Coins | 1, 5, 10, 25, 50 cents, 1 nakfa |
| Banknotes | 1, 5, 10, 20, 50, 100 nakfa |
The nakfa (ISO 4217 code: ERN) is the currency of Eritrea. It was introduced on 8 November 1997 to replace the Ethiopian birr at par. Named after the town of Nakfa, it is divided into 100 cents.
Coins[edit]
Nakfa 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
- 1 nakfa (100 cents)
Banknotes[edit]
The nakfa banknotes were designed by Clarence Holbert of the United States Bureau of Engraving and Printing in 1994.
Banknotes come in denominations of:
- 1 nakfa
- 5 nakfa
- 10 nakfa
- 20 nakfa
- 50 nakfa
- 100 nakfa
There are four 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, and the fourth issues consists of only the 10- and 20-nakfa notes and is dated 24.5.2012. (May 24 is Eritrea's Independence Day).[1]
| Current ERN exchange rates | |
|---|---|
| From Google Finance: | AUD CAD CHF EUR GBP HKD JPY USD |
| From Yahoo! Finance: | AUD CAD CHF EUR GBP HKD JPY USD |
| From XE: | AUD CAD CHF EUR GBP HKD JPY USD |
| From OANDA: | AUD CAD CHF EUR GBP HKD JPY USD |
| From fxtop.com: | AUD CAD CHF EUR GBP HKD JPY USD |
| From Currency.Wiki: | AUD CAD CHF EUR GBP HKD JPY USD |
The nakfa has pegged with the United States dollar at 1 dollar = 10 nakfa since March 17, 2013, and has been pegged to 15 Nakfa = $1 since January 1, 2005.
This is an increase Nakfa of 66% against the U.S. dollar.
See also[edit]
References[edit]
- ^ Linzmayer, Owen (2012). "Eritrea". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.
External links[edit]
| Preceded by: Ethiopian birr Reason: currency independence Ratio: at par |
Currency of Eritrea 1997 – |
Succeeded by: Current |
|
||||||||||||||||||||||
|
||||||||||||||
| This article about a unit of currency is a stub. You can help Wikipedia by expanding it. |
| This Eritrea-related article is a stub. You can help Wikipedia by expanding it. |