Historic Cayman Islands dollar Eritrean nakfa

Cayman Islands dollar eritrean nakfa history for February 2024. The highest quote for this month is 18.506 (15/02/2024) and the lowest 18.579 (02/02/2024). The difference between high and low is -0.39.

KYD ERN average rate for February 2024 is 18.4547, the change between 01/02/2024 and 29/02/2024 is +0.1 %.

01 February 20241 KYD = 18.53 ERN
02 February 20241 KYD = 18.48 ERN
03 February 20241 KYD = 18.35 ERN
04 February 20241 KYD = 18.35 ERN
05 February 20241 KYD = 18.32 ERN
06 February 20241 KYD = 18.45 ERN
07 February 20241 KYD = 18.49 ERN
08 February 20241 KYD = 18.47 ERN
09 February 20241 KYD = 18.49 ERN
12 February 20241 KYD = 18.49 ERN
13 February 20241 KYD = 18.50 ERN
14 February 20241 KYD = 18.50 ERN
15 February 20241 KYD = 18.47 ERN
16 February 20241 KYD = 18.51 ERN
17 February 20241 KYD = 18.38 ERN
18 February 20241 KYD = 18.38 ERN
19 February 20241 KYD = 18.49 ERN
20 February 20241 KYD = 18.47 ERN
21 February 20241 KYD = 18.49 ERN
22 February 20241 KYD = 18.47 ERN
23 February 20241 KYD = 18.49 ERN
24 February 20241 KYD = 18.38 ERN
25 February 20241 KYD = 18.38 ERN
26 February 20241 KYD = 18.49 ERN
27 February 20241 KYD = 18.50 ERN
28 February 20241 KYD = 18.47 ERN
29 February 20241 KYD = 18.51 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.

01/01/2010: Removal of 1 cent coin from circulation

Due to its low purchasing power and production costs, the 1 cent coin was withdrawn from circulation in the Cayman Islands.

01/11/2007: Transition from Crown Dependencies to Overseas Countries and Territories

The Cayman Islands, including its currency, transitioned from being labeled as a Crown Dependency to an Overseas Country and Territory.

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.

01/01/2001: Issuance of New Banknotes and Coins

New banknotes and coins with enhanced security features were introduced to combat counterfeiting.

01/01/1999: Introduction of Cayman Islands Currency Law

The Cayman Islands Currency Law was enacted to provide a legal framework for the issuance and regulation of the currency.

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.

01/07/1997: Pegging of the Cayman Islands Dollar to the US Dollar

The Cayman Islands dollar was pegged to the US dollar at a fixed exchange rate of KYD 1.00 = USD 1.20.

07/11/1974: Creation of the Cayman Islands Monetary Authority

The Cayman Islands Monetary Authority was established as the central bank responsible for regulating the currency and financial institutions.

01/01/1972: Introduction of Cayman Islands Dollar

The Cayman Islands dollar was first introduced as the official currency, replacing the Jamaican dollar.
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