Historic Eritrean nakfa Pakistani rupee

Eritrean nakfa pakistani rupee history for January 2024. The highest quote for this month is 18.687 (06/01/2024) and the lowest 18.711 (06/01/2024). The difference between high and low is -0.13.

ERN PKR average rate for January 2024 is 18.547, the change between 01/01/2024 and 31/01/2024 is -0.75 %.

01 January 20241 ERN = 18.40 PKR
02 January 20241 ERN = 18.42 PKR
03 January 20241 ERN = 18.70 PKR
04 January 20241 ERN = 18.68 PKR
05 January 20241 ERN = 18.66 PKR
06 January 20241 ERN = 18.69 PKR
07 January 20241 ERN = 18.68 PKR
08 January 20241 ERN = 18.33 PKR
09 January 20241 ERN = 18.64 PKR
10 January 20241 ERN = 18.59 PKR
11 January 20241 ERN = 18.65 PKR
12 January 20241 ERN = 18.58 PKR
14 January 20241 ERN = 18.63 PKR
15 January 20241 ERN = 18.27 PKR
16 January 20241 ERN = 18.48 PKR
17 January 20241 ERN = 18.55 PKR
18 January 20241 ERN = 18.53 PKR
19 January 20241 ERN = 18.56 PKR
22 January 20241 ERN = 18.46 PKR
23 January 20241 ERN = 18.56 PKR
24 January 20241 ERN = 18.55 PKR
25 January 20241 ERN = 18.55 PKR
26 January 20241 ERN = 18.53 PKR
28 January 20241 ERN = 18.55 PKR
29 January 20241 ERN = 18.49 PKR
30 January 20241 ERN = 18.52 PKR
31 January 20241 ERN = 18.54 PKR

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.

16/07/2019: IMF Bailout Package

Pakistan reached an agreement with the IMF for a three-year, $6 billion bailout package to address its balance of payments crisis, affecting the value of the Pakistani rupee.

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.

11/12/2013: IMF Loan Program

Pakistan signed a loan agreement with the International Monetary Fund (IMF) to stabilize its economy, resulting in devaluation of the Pakistani rupee.

01/12/2008: Global Financial Crisis

The global financial crisis led to a depreciation of the Pakistani rupee against major international currencies due to economic instability.

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.

28/05/1999: Introduction of State Bank of Pakistan

The State Bank of Pakistan was given full autonomous control over the monetary policy, which had a significant impact on the value of the Pakistani rupee.

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.

16/12/1971: Separation of East Pakistan

Following the separation of East Pakistan and the formation of Bangladesh, the Pakistani rupee underwent a major devaluation.

01/07/1955: Replacement of Indian Rupee

The Pakistani rupee replaced the Indian rupee as the official currency of Pakistan after the two countries separated.

17/08/1947: Independence of Pakistan

The Pakistani rupee was introduced as the official currency of Pakistan after the country gained independence from British rule.
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