Historic Colombian Peso Eritrean nakfa

Colombian Peso eritrean nakfa history for February 2024. The highest quote for this month is 0.003858 (17/02/2024) and the lowest 0.00388 (01/02/2024). The difference between high and low is -0.57.

COP ERN average rate for February 2024 is 0.00384, the change between 01/02/2024 and 29/02/2024 is +0.34 %.

01 February 20241 COP = 0.0038 ERN
02 February 20241 COP = 0.0039 ERN
03 February 20241 COP = 0.0038 ERN
04 February 20241 COP = 0.0038 ERN
05 February 20241 COP = 0.0039 ERN
06 February 20241 COP = 0.0038 ERN
07 February 20241 COP = 0.0038 ERN
08 February 20241 COP = 0.0038 ERN
09 February 20241 COP = 0.0038 ERN
12 February 20241 COP = 0.0039 ERN
13 February 20241 COP = 0.0039 ERN
14 February 20241 COP = 0.0038 ERN
15 February 20241 COP = 0.0038 ERN
16 February 20241 COP = 0.0039 ERN
17 February 20241 COP = 0.0039 ERN
18 February 20241 COP = 0.0039 ERN
19 February 20241 COP = 0.0039 ERN
20 February 20241 COP = 0.0038 ERN
21 February 20241 COP = 0.0038 ERN
22 February 20241 COP = 0.0038 ERN
23 February 20241 COP = 0.0038 ERN
24 February 20241 COP = 0.0038 ERN
25 February 20241 COP = 0.0038 ERN
26 February 20241 COP = 0.0039 ERN
27 February 20241 COP = 0.0038 ERN
28 February 20241 COP = 0.0038 ERN
29 February 20241 COP = 0.0038 ERN

08/04/2020: COVID-19 impact on currency circulation

Due to the COVID-19 pandemic, circulation of nakfa banknotes decreased as people relied more on digital transactions.

25/02/2019: Introduction of new nakfa banknotes

Eritrea introduced new banknotes in denominations of 5, 10, 20, 50, and 100 nakfa.

30/10/2018: Currency devaluation

Eritrea devalued the nakfa by 14%, reducing its official exchange rate to 1 USD = 15 ERN.

02/12/2016: Peace Agreement Impact

After the signing of the peace agreement with FARC, the Colombian Peso strengthened and saw improvements in the economy.

22/01/2015: Dollarization policy imposed

Eritrea imposed a dollarization policy, making the US dollar the predominant currency for most transactions.

14/11/2005: Currency redenomination

The Eritrean nakfa underwent a redenomination where old nakfa notes were replaced with new nakfa notes in a ratio of 1:1,000.

24/07/2001: Exchange rate flexibility

Colombia allowed the Colombian Peso to have a flexible exchange rate, transitioning from a fixed exchange rate system.

21/10/1999: Colombia's Financial Crisis

Colombia faced a financial crisis resulting in a devaluation of the Peso and an economic recession.

08/11/1997: Introduction of the Eritrean nakfa

The Eritrean nakfa was introduced as the official currency of Eritrea, replacing the Ethiopian birr.

08/11/1997: Currency exchange rate fixed

The Eritrean nakfa was fixed at an exchange rate of 1 USD = 10 ERN.

04/07/1991: Introduction of a New Peso

A new Peso was introduced with a higher value, replacing the old Peso due to high inflation.

12/06/1953: Creation of Banco de la República

The central bank of Colombia, Banco de la República, was established to regulate and control the Colombian Peso.

31/07/1886: Adoption of the Gold Standard

Colombia adopted the gold standard, linking the value of the Peso to gold, stabilizing the currency.

27/05/1837: Introduction of the Peso

The Colombian Peso was introduced as the official currency of Colombia, replacing the Spanish real.
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