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.
20/03/2020: Banned Old Notes
Bangladesh bans the circulation of old 1000 Taka notes to combat counterfeit currency and encourage the use of new security-enhanced banknotes.
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.
12/06/2011: Denomination Revamp
Bangladesh revalues its currency by dropping two zeros from the denominations, making 1000 Taka equal to 10 Taka.
01/07/2007: Introduction of Polymer Banknotes
Bangladesh introduces polymer banknotes for the first time, enhancing durability, security, and public acceptance of the Bangladeshi Taka.
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.
02/03/1976: Introduction of Decimal System
Bangladesh transitions from the Indian Rupee-based monetary system to the decimal-based system, resulting in the issuance of new banknotes and coins.
15/08/1975: Assassination of Sheikh Mujibur Rahman
The assassination of Sheikh Mujibur Rahman, the founding father of Bangladesh and the advocate for the Bangladeshi Taka, creates political instability and economic challenges.
04/01/1972: Introduction of Bangladeshi Taka
The Bangladeshi Taka is introduced as the national currency replacing the Pakistani Rupee at par.
25/03/1971: Declaration of Independence
Bangladesh declares independence from Pakistan, leading to the establishment of the Bangladeshi Taka as the official currency.