Historic Pakistani rupee Eritrean nakfa

Pakistani rupee eritrean nakfa history for January 2024. The highest quote for this month is 0.05427 (01/01/2024) and the lowest 0.054883 (30/01/2024). The difference between high and low is -1.13.

PKR ERN average rate for January 2024 is 0.05392, the change between 01/01/2024 and 31/01/2024 is +0.75 %.

01 January 20241 PKR = 0.0543 ERN
02 January 20241 PKR = 0.0543 ERN
03 January 20241 PKR = 0.0535 ERN
04 January 20241 PKR = 0.0535 ERN
05 January 20241 PKR = 0.0536 ERN
06 January 20241 PKR = 0.0535 ERN
07 January 20241 PKR = 0.0535 ERN
08 January 20241 PKR = 0.0546 ERN
09 January 20241 PKR = 0.0536 ERN
10 January 20241 PKR = 0.0538 ERN
11 January 20241 PKR = 0.0536 ERN
12 January 20241 PKR = 0.0538 ERN
14 January 20241 PKR = 0.0537 ERN
15 January 20241 PKR = 0.0547 ERN
16 January 20241 PKR = 0.0541 ERN
17 January 20241 PKR = 0.0539 ERN
18 January 20241 PKR = 0.0540 ERN
19 January 20241 PKR = 0.0539 ERN
22 January 20241 PKR = 0.0542 ERN
23 January 20241 PKR = 0.0539 ERN
24 January 20241 PKR = 0.0539 ERN
25 January 20241 PKR = 0.0539 ERN
26 January 20241 PKR = 0.0540 ERN
28 January 20241 PKR = 0.0539 ERN
29 January 20241 PKR = 0.0541 ERN
30 January 20241 PKR = 0.0540 ERN
31 January 20241 PKR = 0.0539 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.

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.
PKR ERN July 2023
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