Historic Eritrean nakfa Tongan paʻanga

Eritrean nakfa tongan paʻanga history for February 2024. The highest quote for this month is 0.15798 (28/02/2024) and the lowest 0.1564 (06/02/2024). The difference between high and low is 1.

ERN TOP average rate for February 2024 is 0.15586, the change between 01/02/2024 and 29/02/2024 is +0.27 %.

01 February 20241 ERN = 0.1567 TOP
02 February 20241 ERN = 0.1562 TOP
03 February 20241 ERN = 0.1562 TOP
04 February 20241 ERN = 0.1562 TOP
05 February 20241 ERN = 0.1567 TOP
06 February 20241 ERN = 0.1573 TOP
07 February 20241 ERN = 0.1578 TOP
08 February 20241 ERN = 0.1568 TOP
09 February 20241 ERN = 0.1541 TOP
12 February 20241 ERN = 0.1553 TOP
13 February 20241 ERN = 0.1550 TOP
14 February 20241 ERN = 0.1558 TOP
15 February 20241 ERN = 0.1557 TOP
16 February 20241 ERN = 0.1552 TOP
17 February 20241 ERN = 0.1552 TOP
18 February 20241 ERN = 0.1552 TOP
19 February 20241 ERN = 0.1552 TOP
20 February 20241 ERN = 0.1544 TOP
21 February 20241 ERN = 0.1549 TOP
22 February 20241 ERN = 0.1561 TOP
23 February 20241 ERN = 0.1558 TOP
24 February 20241 ERN = 0.1558 TOP
25 February 20241 ERN = 0.1558 TOP
26 February 20241 ERN = 0.1567 TOP
27 February 20241 ERN = 0.1572 TOP
28 February 20241 ERN = 0.1550 TOP
29 February 20241 ERN = 0.1563 TOP

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.

01/04/2020: 50th Anniversary of the Paʻanga

Tonga celebrated the 50th anniversary of the introduction of the paʻanga as its national currency.

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.

29/07/2014: Second Devaluation of the Paʻanga

Another devaluation occurred, this time by 20%, as part of Tonga's economic reform program.

14/03/2008: Currency Redenomination

Tonga redenominated its currency, removing three zeros from the paʻanga to simplify monetary transactions.

16/11/2006: Riot and Currency Crisis

Civil unrest and riots erupted in Tonga, leading to a currency crisis and a temporary suspension of trading the paʻanga.

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.

01/04/1991: First Devaluation of the Paʻanga

The paʻanga was devalued by 25% in an attempt to boost Tonga's economy and improve trade competitiveness.

04/06/1975: Independence of Tonga

Tonga gained full independence from the United Kingdom, further solidifying the status of the paʻanga as its national currency.

01/04/1967: Introduction of the Paʻanga

The Tongan paʻanga was introduced as the official currency, replacing the pound at a rate of 1 pound = 2 paʻanga.
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