Historic Cayman Islands dollar Eritrean nakfa

Cayman Islands dollar eritrean nakfa history for January 2024. The highest quote for this month is 18.499 (08/01/2024) and the lowest 18.522 (08/01/2024). The difference between high and low is -0.12.

KYD ERN average rate for January 2024 is 18.46556, the change between 01/01/2024 and 31/01/2024 is -0.12 %.

01 January 20241 KYD = 18.45 ERN
02 January 20241 KYD = 18.43 ERN
03 January 20241 KYD = 18.46 ERN
04 January 20241 KYD = 18.51 ERN
05 January 20241 KYD = 18.49 ERN
06 January 20241 KYD = 18.38 ERN
07 January 20241 KYD = 18.38 ERN
08 January 20241 KYD = 18.52 ERN
09 January 20241 KYD = 18.50 ERN
10 January 20241 KYD = 18.47 ERN
11 January 20241 KYD = 18.49 ERN
12 January 20241 KYD = 18.46 ERN
14 January 20241 KYD = 18.35 ERN
15 January 20241 KYD = 18.52 ERN
16 January 20241 KYD = 18.51 ERN
17 January 20241 KYD = 18.44 ERN
18 January 20241 KYD = 18.49 ERN
19 January 20241 KYD = 18.47 ERN
22 January 20241 KYD = 18.51 ERN
23 January 20241 KYD = 18.47 ERN
24 January 20241 KYD = 18.50 ERN
25 January 20241 KYD = 18.50 ERN
26 January 20241 KYD = 18.48 ERN
28 January 20241 KYD = 18.38 ERN
29 January 20241 KYD = 18.45 ERN
30 January 20241 KYD = 18.50 ERN
31 January 20241 KYD = 18.47 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Due to its low purchasing power and production costs, the 1 cent coin was withdrawn from circulation in the Cayman Islands.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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