Pakistani rupee eritrean nakfa exchange rate history (PKR ERN) October 2023

Pakistani rupee eritrean nakfa history for October 2023. The highest quote for this month is 0.054654 (30/10/2023) and the lowest 0.054939 (23/10/2023). The difference between high and low is -0.52.

PKR ERN average rate for October 2023 is 0.05393, the change between 01/10/2023 and 31/10/2023 is -2.45 %.

01 October 2023	1 PKR = 0.0523 ERN
03 October 2023	1 PKR = 0.0526 ERN
04 October 2023	1 PKR = 0.0528 ERN
06 October 2023	1 PKR = 0.0542 ERN
07 October 2023	1 PKR = 0.0531 ERN
09 October 2023	1 PKR = 0.0545 ERN
10 October 2023	1 PKR = 0.0538 ERN
11 October 2023	1 PKR = 0.0537 ERN
13 October 2023	1 PKR = 0.0541 ERN
16 October 2023	1 PKR = 0.0546 ERN
17 October 2023	1 PKR = 0.0545 ERN
18 October 2023	1 PKR = 0.0545 ERN
19 October 2023	1 PKR = 0.0542 ERN
20 October 2023	1 PKR = 0.0541 ERN
21 October 2023	1 PKR = 0.0541 ERN
22 October 2023	1 PKR = 0.0541 ERN
23 October 2023	1 PKR = 0.0551 ERN
24 October 2023	1 PKR = 0.0542 ERN
25 October 2023	1 PKR = 0.0539 ERN
26 October 2023	1 PKR = 0.0539 ERN
27 October 2023	1 PKR = 0.0539 ERN
29 October 2023	1 PKR = 0.0538 ERN
30 October 2023	1 PKR = 0.0547 ERN
31 October 2023	1 PKR = 0.0536 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.

Historic Pakistani rupee Eritrean nakfa