Eritrean nakfa tongan paʻanga exchange rate history (ERN TOP) October 2023

Eritrean nakfa tongan paʻanga history for October 2023. The highest quote for this month is 0.16041 (31/10/2023) and the lowest 0.15885 (29/10/2023). The difference between high and low is 0.97.

ERN TOP average rate for October 2023 is 0.15779, the change between 01/10/2023 and 31/10/2023 is -2.35 %.

01 October 2023	1 ERN = 0.1567 TOP
03 October 2023	1 ERN = 0.1576 TOP
04 October 2023	1 ERN = 0.1576 TOP
06 October 2023	1 ERN = 0.1579 TOP
07 October 2023	1 ERN = 0.1579 TOP
09 October 2023	1 ERN = 0.1573 TOP
10 October 2023	1 ERN = 0.1568 TOP
11 October 2023	1 ERN = 0.1563 TOP
13 October 2023	1 ERN = 0.1573 TOP
16 October 2023	1 ERN = 0.1572 TOP
17 October 2023	1 ERN = 0.1573 TOP
18 October 2023	1 ERN = 0.1577 TOP
19 October 2023	1 ERN = 0.1578 TOP
20 October 2023	1 ERN = 0.1577 TOP
21 October 2023	1 ERN = 0.1577 TOP
22 October 2023	1 ERN = 0.1582 TOP
23 October 2023	1 ERN = 0.1578 TOP
24 October 2023	1 ERN = 0.1567 TOP
25 October 2023	1 ERN = 0.1582 TOP
26 October 2023	1 ERN = 0.1592 TOP
27 October 2023	1 ERN = 0.1589 TOP
29 October 2023	1 ERN = 0.1589 TOP
30 October 2023	1 ERN = 0.1578 TOP
31 October 2023	1 ERN = 0.1604 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.

Historic Eritrean nakfa Tongan paʻanga