Azerbaijani manat eritrean nakfa exchange rate history (AZN ERN) December 2023

Azerbaijani manat eritrean nakfa history for December 2023. The highest quote for this month is 8.8673 (01/12/2023) and the lowest 8.8673 (12/12/2023). The difference between high and low is 0.

AZN ERN average rate for December 2023 is 8.86081, the change between 01/12/2023 and 31/12/2023 is -0.13 %.

01 December 2023	1 AZN = 8.86 ERN
04 December 2023	1 AZN = 8.86 ERN
05 December 2023	1 AZN = 8.87 ERN
06 December 2023	1 AZN = 8.86 ERN
07 December 2023	1 AZN = 8.87 ERN
08 December 2023	1 AZN = 8.86 ERN
11 December 2023	1 AZN = 8.87 ERN
12 December 2023	1 AZN = 8.87 ERN
13 December 2023	1 AZN = 8.87 ERN
14 December 2023	1 AZN = 8.86 ERN
15 December 2023	1 AZN = 8.87 ERN
18 December 2023	1 AZN = 8.86 ERN
19 December 2023	1 AZN = 8.87 ERN
20 December 2023	1 AZN = 8.86 ERN
21 December 2023	1 AZN = 8.86 ERN
22 December 2023	1 AZN = 8.86 ERN
26 December 2023	1 AZN = 8.86 ERN
27 December 2023	1 AZN = 8.87 ERN
28 December 2023	1 AZN = 8.86 ERN
29 December 2023	1 AZN = 8.87 ERN

31/12/2020: Digital Currency Pilot

Azerbaijan launched a pilot program to test the use of a digital currency, the digital manat, in an effort to modernize its financial system.

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.

20/12/2017: Second Devaluation

The manat faced another devaluation, this time by around 30%, due to economic challenges and a sharp drop in oil prices.

20/12/2015: Devaluation

The manat was devalued by more than 30% against the US dollar in response to falling oil prices.

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.

20/02/2005: Pegged to US Dollar

The Azerbaijani manat was pegged to the US dollar at a rate of 1.6 manat per dollar.

14/06/2001: Currency Reform

A currency reform was implemented, resulting in a new manat with a higher exchange rate.

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.

31/12/1993: Hyperinflation

Azerbaijan experienced a period of hyperinflation, leading to the devaluation of the manat.

14/08/1992: Introduction of Manat

The Azerbaijani manat currency was introduced as the official currency of Azerbaijan, replacing the Soviet ruble.

Historic Azerbaijani manat Eritrean nakfa