Historic Eritrean nakfa Brazilian Real

Eritrean nakfa brazilian real history for January 2024. The highest quote for this month is 0.33169 (23/01/2024) and the lowest 0.32936 (23/01/2024). The difference between high and low is 0.7.

ERN BRL average rate for January 2024 is 0.32547, the change between 01/01/2024 and 31/01/2024 is -2.19 %.

01 January 20241 ERN = 0.3219 BRL
02 January 20241 ERN = 0.3220 BRL
03 January 20241 ERN = 0.3271 BRL
04 January 20241 ERN = 0.3264 BRL
05 January 20241 ERN = 0.3249 BRL
06 January 20241 ERN = 0.3234 BRL
07 January 20241 ERN = 0.3235 BRL
08 January 20241 ERN = 0.3230 BRL
09 January 20241 ERN = 0.3231 BRL
10 January 20241 ERN = 0.3259 BRL
11 January 20241 ERN = 0.3246 BRL
12 January 20241 ERN = 0.3236 BRL
14 January 20241 ERN = 0.3227 BRL
15 January 20241 ERN = 0.3220 BRL
16 January 20241 ERN = 0.3226 BRL
17 January 20241 ERN = 0.3272 BRL
18 January 20241 ERN = 0.3274 BRL
19 January 20241 ERN = 0.3273 BRL
22 January 20241 ERN = 0.3255 BRL
23 January 20241 ERN = 0.3315 BRL
24 January 20241 ERN = 0.3286 BRL
25 January 20241 ERN = 0.3273 BRL
26 January 20241 ERN = 0.3262 BRL
28 January 20241 ERN = 0.3262 BRL
29 January 20241 ERN = 0.3265 BRL
30 January 20241 ERN = 0.3285 BRL
31 January 20241 ERN = 0.3289 BRL

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.

15/08/2018: Elections and Political Uncertainty

The Real experienced significant volatility leading up to the Presidential elections, responding to political developments and market sentiment.

22/01/2015: Dollarization policy imposed

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

22/01/2015: Real Hits 10-Year Low

The Real reached its lowest level against the US dollar in a decade, primarily due to a decline in commodity prices and economic concerns.

15/09/2008: Global Financial Crisis Impact

As a consequence of the global financial crisis, the Brazilian Real faced a sharp depreciation against major currencies due to capital outflows and risk aversion.

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.

27/07/2005: New Currency Symbol

The Central Bank of Brazil announced a public competition to select a new currency symbol, which resulted in the adoption of the official symbol for the Real.

18/06/2002: Exchange Rate Floatation

The Brazilian government allowed the Real to float freely against other currencies, abandoning the controlled exchange rate regime.

15/01/1999: Devaluation of the Real

Due to the Russian financial crisis and the Asian financial crisis, the government devalued the Real by around 8% to boost exports and stimulate the economy.

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.

01/07/1994: Introduction of the Real Plan

The Brazilian real was established as the official currency, replacing the hyperinflation-ridden Cruzeiro Real. It aimed to stabilize the economy and combat inflation.
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