Historic Eritrean nakfa Canadian dollar

Eritrean nakfa canadian dollar history for January 2024. The highest quote for this month is 0.08985 (17/01/2024) and the lowest 0.089573 (17/01/2024). The difference between high and low is 0.31.

ERN CAD average rate for January 2024 is 0.08899, the change between 01/01/2024 and 31/01/2024 is -1.36 %.

01 January 20241 ERN = 0.0879 CAD
02 January 20241 ERN = 0.0879 CAD
03 January 20241 ERN = 0.0885 CAD
04 January 20241 ERN = 0.0886 CAD
05 January 20241 ERN = 0.0886 CAD
06 January 20241 ERN = 0.0887 CAD
07 January 20241 ERN = 0.0887 CAD
08 January 20241 ERN = 0.0888 CAD
09 January 20241 ERN = 0.0886 CAD
10 January 20241 ERN = 0.0890 CAD
11 January 20241 ERN = 0.0888 CAD
12 January 20241 ERN = 0.0889 CAD
14 January 20241 ERN = 0.0891 CAD
15 January 20241 ERN = 0.0890 CAD
16 January 20241 ERN = 0.0892 CAD
17 January 20241 ERN = 0.0896 CAD
18 January 20241 ERN = 0.0896 CAD
19 January 20241 ERN = 0.0896 CAD
22 January 20241 ERN = 0.0891 CAD
23 January 20241 ERN = 0.0896 CAD
24 January 20241 ERN = 0.0893 CAD
25 January 20241 ERN = 0.0898 CAD
26 January 20241 ERN = 0.0894 CAD
28 January 20241 ERN = 0.0893 CAD
29 January 20241 ERN = 0.0894 CAD
30 January 20241 ERN = 0.0890 CAD
31 January 20241 ERN = 0.0890 CAD

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.

22/01/2015: Dollarization policy imposed

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

07/11/2013: Change in banknote design and security features

The Bank of Canada introduced new polymer banknotes with enhanced security features and redesigned motifs, replacing the paper-based notes in circulation since 1935.

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.

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.

15/08/1971: Canada switches to a floating exchange rate

Canada abandoned its fixed exchange rate system and adopted a floating exchange rate, allowing the value of the Canadian dollar to fluctuate in response to market forces.

01/03/1950: Introduction of the Canadian dollar's decimalization

Canada adopted a decimal currency system, dividing the dollar into 100 cents, replacing the previous system based on pounds, shillings, and pence.

01/01/1933: Currency depreciation during the Great Depression

The Canadian dollar experienced significant depreciation during the Great Depression due to economic uncertainty and a decrease in international trade.

02/01/1914: Introduction of the Canadian Dollar Act

The Canadian Dollar Act established the Canadian dollar as the sole currency of Canada and gave the government control over its issuance.

01/01/1858: Introduction of the Canadian dollar

The Canadian pound was replaced by the Canadian dollar as the official currency of Canada, helping to unify the currency across the country.

01/01/1841: Introduction of the Canadian pound

The first Canadian currency was the Canadian pound, which was introduced to replace British pounds in the Province of Canada.
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