United States dollar eritrean nakfa history for July 2023. The highest quote for this month is 15.07 (05/07/2023) and the lowest 15.07 (05/07/2023). The difference between high and low is 0.
USD ERN average rate for July 2023 is 15.07, the change between 01/07/2023 and 31/07/2023 is 0 %.
| 05 July 2023 | 1 USD = 15.07 ERN |
| 25 July 2023 | 1 USD = 15.07 ERN |
| 31 July 2023 | 1 USD = 15.07 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.
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.
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.