Salvadoran Colón eritrean nakfa history for March 2024. The highest quote for this month is 1.7674 (07/03/2024) and the lowest 1.7732 (08/03/2024). The difference between high and low is -0.33.
SVC ERN average rate for March 2024 is 1.75398, the change between 01/03/2024 and 31/03/2024 is +2.62 %.
| 01 March 2024 | 1 SVC = 1.766 ERN |
| 03 March 2024 | 1 SVC = 1.722 ERN |
| 04 March 2024 | 1 SVC = 1.771 ERN |
| 05 March 2024 | 1 SVC = 1.766 ERN |
| 06 March 2024 | 1 SVC = 1.767 ERN |
| 07 March 2024 | 1 SVC = 1.765 ERN |
| 08 March 2024 | 1 SVC = 1.775 ERN |
| 10 March 2024 | 1 SVC = 1.722 ERN |
| 11 March 2024 | 1 SVC = 1.766 ERN |
| 12 March 2024 | 1 SVC = 1.720 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.
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.