Historic Australian dollar Eritrean nakfa

Australian dollar eritrean nakfa history for February 2024. The highest quote for this month is 9.89 (24/02/2024) and the lowest 9.948 (02/02/2024). The difference between high and low is -0.59.

AUD ERN average rate for February 2024 is 9.83485, the change between 01/02/2024 and 29/02/2024 is +1.14 %.

01 February 20241 AUD = 9.89 ERN
02 February 20241 AUD = 9.90 ERN
03 February 20241 AUD = 9.81 ERN
04 February 20241 AUD = 9.81 ERN
05 February 20241 AUD = 9.80 ERN
06 February 20241 AUD = 9.75 ERN
07 February 20241 AUD = 9.84 ERN
08 February 20241 AUD = 9.82 ERN
09 February 20241 AUD = 9.79 ERN
12 February 20241 AUD = 9.82 ERN
13 February 20241 AUD = 9.84 ERN
14 February 20241 AUD = 9.73 ERN
15 February 20241 AUD = 9.78 ERN
16 February 20241 AUD = 9.83 ERN
17 February 20241 AUD = 9.85 ERN
18 February 20241 AUD = 9.85 ERN
19 February 20241 AUD = 9.85 ERN
20 February 20241 AUD = 9.83 ERN
21 February 20241 AUD = 9.88 ERN
22 February 20241 AUD = 9.86 ERN
23 February 20241 AUD = 9.89 ERN
24 February 20241 AUD = 9.89 ERN
25 February 20241 AUD = 9.89 ERN
26 February 20241 AUD = 9.88 ERN
27 February 20241 AUD = 9.86 ERN
28 February 20241 AUD = 9.85 ERN
29 February 20241 AUD = 9.78 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.

18/03/2020: COVID-19 pandemic impact

The Australian dollar experienced a sharp decline due to the global economic impact of the COVID-19 pandemic and uncertainty in financial markets.

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.

13/10/2011: Record high exchange rate

The Australian dollar reached a record high exchange rate of above $1.10 against the US dollar, driven by strong commodity demand and high interest rates.

06/10/2008: Global Financial Crisis

The Australian dollar experienced a significant decline due to the impact of the global financial crisis, reaching a low point of around $0.60 against the US dollar.

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.

30/06/1996: Introduction of the polymer banknotes

Australia introduced polymer banknotes, replacing the paper-based banknotes, enhancing their durability and security features.

08/03/1983: Floating of the Australian dollar

The Australian dollar was fully floated and allowed to fluctuate freely on the foreign exchange market, leading to increased volatility.

12/12/1971: End of the fixed exchange rate

Australia shifted from a fixed exchange rate to a flexible exchange rate, allowing market forces to determine the value of the Australian dollar.

13/02/1966: Decimalisation of the Australian currency

Australia adopted decimal currency, replacing the pound with the Australian dollar, symbol 'A$'.
AUD ERN January 2024
AUD ERN February 2024
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