Historic Indonesian Rupiah Eritrean nakfa

Indonesian Rupiah eritrean nakfa history for December 2023. The highest quote for this month is 0.000976 (27/12/2023) and the lowest 0.001044 (29/12/2023). The difference between high and low is -6.97.

IDR ERN average rate for December 2023 is 0.00097, the change between 01/12/2023 and 31/12/2023 is -0.93 %.

01 December 20231 IDR = 0.0010 ERN
02 December 20231 IDR = 0.0010 ERN
03 December 20231 IDR = 0.0010 ERN
04 December 20231 IDR = 0.0010 ERN
05 December 20231 IDR = 0.0010 ERN
06 December 20231 IDR = 0.0010 ERN
07 December 20231 IDR = 0.0010 ERN
08 December 20231 IDR = 0.0010 ERN
10 December 20231 IDR = 0.0010 ERN
11 December 20231 IDR = 0.0010 ERN
12 December 20231 IDR = 0.0010 ERN
13 December 20231 IDR = 0.0010 ERN
14 December 20231 IDR = 0.0010 ERN
15 December 20231 IDR = 0.0010 ERN
16 December 20231 IDR = 0.0010 ERN
17 December 20231 IDR = 0.0010 ERN
18 December 20231 IDR = 0.0010 ERN
19 December 20231 IDR = 0.0010 ERN
20 December 20231 IDR = 0.0010 ERN
21 December 20231 IDR = 0.0010 ERN
22 December 20231 IDR = 0.0010 ERN
23 December 20231 IDR = 0.0010 ERN
24 December 20231 IDR = 0.0010 ERN
26 December 20231 IDR = 0.0010 ERN
27 December 20231 IDR = 0.0010 ERN
28 December 20231 IDR = 0.0010 ERN
29 December 20231 IDR = 0.0010 ERN

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.

04/03/2020: Rupiah Hits Lowest Point

The Rupiah reached its weakest level against the US dollar since the 1998 financial crisis, reflecting global economic uncertainty and the impact of the COVID-19 pandemic.

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.

27/07/2015: New Banknotes and Coins

The Bank of Indonesia introduced a new series of banknotes and coins with enhanced security features and updated designs to commemorate the country's achievements.

22/01/2015: Dollarization policy imposed

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

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.

20/05/1998: Revaluation of Rupiah

As a response to the financial crisis, the Indonesian government revalued the Rupiah by removing three zeros from the currency, aiming to stabilize its value.

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.

01/07/1997: Asian Financial Crisis

Indonesia, along with other Southeast Asian nations, experienced a severe currency crisis as the Rupiah plummeted in value against the US dollar, leading to economic turmoil.

29/11/1965: New Rupiah Symbol

The official symbol for the Rupiah (Rp) was introduced, replacing the previous abbreviation of 'Rp.' This symbol is still in use today.

31/05/1952: Currency Exchange Law

The Currency Exchange Law was enacted, establishing a fixed exchange rate for the Rupiah against the Dutch guilder, marking a significant milestone in the currency's stability.

26/12/1949: Independence of Indonesia

Following Indonesia's independence from the Netherlands, the Rupiah was introduced as the official currency of the newly formed republic.
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