Moroccan dirham eritrean nakfa exchange rate history (MAD ERN) November 2023

Moroccan dirham eritrean nakfa history for November 2023. The highest quote for this month is 1.5329 (20/11/2023) and the lowest 1.5502 (29/11/2023). The difference between high and low is -1.13.

MAD ERN average rate for November 2023 is 1.49515, the change between 01/11/2023 and 30/11/2023 is -2.4 %.

01 November 2023	1 MAD = 1.464 ERN
06 November 2023	1 MAD = 1.523 ERN
07 November 2023	1 MAD = 1.477 ERN
08 November 2023	1 MAD = 1.472 ERN
09 November 2023	1 MAD = 1.480 ERN
10 November 2023	1 MAD = 1.472 ERN
12 November 2023	1 MAD = 1.474 ERN
13 November 2023	1 MAD = 1.524 ERN
14 November 2023	1 MAD = 1.473 ERN
15 November 2023	1 MAD = 1.485 ERN
16 November 2023	1 MAD = 1.484 ERN
17 November 2023	1 MAD = 1.484 ERN
18 November 2023	1 MAD = 1.484 ERN
19 November 2023	1 MAD = 1.485 ERN
20 November 2023	1 MAD = 1.541 ERN
21 November 2023	1 MAD = 1.488 ERN
22 November 2023	1 MAD = 1.486 ERN
23 November 2023	1 MAD = 1.533 ERN
24 November 2023	1 MAD = 1.535 ERN
26 November 2023	1 MAD = 1.492 ERN
27 November 2023	1 MAD = 1.540 ERN
28 November 2023	1 MAD = 1.493 ERN
29 November 2023	1 MAD = 1.499 ERN
30 November 2023	1 MAD = 1.499 ERN

15/09/2021: Digitization of the Moroccan dirham

Morocco announced plans to digitize the dirham, introducing a central bank digital currency (CBDC) for financial transactions in the country.

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.

02/06/2014: Introduction of the fourth dirham

Another series of Moroccan dirham banknotes was issued, featuring new designs and enhanced security features.

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.

02/07/2005: Dirham's exchange rate floatation

Morocco moved to a floating exchange rate regime, allowing the dirham to fluctuate based on market forces.

01/05/1999: Introduction of the third dirham

A new series of Moroccan dirham banknotes was introduced with enhanced security features.

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.

12/12/1980: Introduction of the second dirham

A new series of Moroccan dirham banknotes was issued to replace the first series.

17/10/1974: Adoption of the dirham as the currency

The Moroccan franc was replaced by the Moroccan dirham (MAD) as the official currency.

26/11/1960: Introduction of the Moroccan franc (FRF)

The Moroccan franc was introduced as the official currency of Morocco.

Historic Moroccan dirham Eritrean nakfa