Historic Eritrean nakfa Australian dollar

Eritrean nakfa australian dollar history for February 2024. The highest quote for this month is 0.10293 (14/02/2024) and the lowest 0.10237 (14/02/2024). The difference between high and low is 0.54.

ERN AUD average rate for February 2024 is 0.10168, the change between 01/02/2024 and 29/02/2024 is -1.17 %.

01 February 20241 ERN = 0.1011 AUD
02 February 20241 ERN = 0.1011 AUD
03 February 20241 ERN = 0.1020 AUD
04 February 20241 ERN = 0.1020 AUD
05 February 20241 ERN = 0.1020 AUD
06 February 20241 ERN = 0.1025 AUD
07 February 20241 ERN = 0.1016 AUD
08 February 20241 ERN = 0.1019 AUD
09 February 20241 ERN = 0.1021 AUD
12 February 20241 ERN = 0.1018 AUD
13 February 20241 ERN = 0.1016 AUD
14 February 20241 ERN = 0.1028 AUD
15 February 20241 ERN = 0.1022 AUD
16 February 20241 ERN = 0.1017 AUD
17 February 20241 ERN = 0.1016 AUD
18 February 20241 ERN = 0.1016 AUD
19 February 20241 ERN = 0.1015 AUD
20 February 20241 ERN = 0.1017 AUD
21 February 20241 ERN = 0.1013 AUD
22 February 20241 ERN = 0.1014 AUD
23 February 20241 ERN = 0.1012 AUD
24 February 20241 ERN = 0.1011 AUD
25 February 20241 ERN = 0.1011 AUD
26 February 20241 ERN = 0.1012 AUD
27 February 20241 ERN = 0.1015 AUD
28 February 20241 ERN = 0.1015 AUD
29 February 20241 ERN = 0.1023 AUD

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.

18/03/2020: COVID-19 pandemic impact

The Australian dollar experienced a sharp decline due to the global economic impact of the COVID-19 pandemic and uncertainty in financial markets.

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.

13/10/2011: Record high exchange rate

The Australian dollar reached a record high exchange rate of above $1.10 against the US dollar, driven by strong commodity demand and high interest rates.

06/10/2008: Global Financial Crisis

The Australian dollar experienced a significant decline due to the impact of the global financial crisis, reaching a low point of around $0.60 against the US dollar.

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.

30/06/1996: Introduction of the polymer banknotes

Australia introduced polymer banknotes, replacing the paper-based banknotes, enhancing their durability and security features.

08/03/1983: Floating of the Australian dollar

The Australian dollar was fully floated and allowed to fluctuate freely on the foreign exchange market, leading to increased volatility.

12/12/1971: End of the fixed exchange rate

Australia shifted from a fixed exchange rate to a flexible exchange rate, allowing market forces to determine the value of the Australian dollar.

13/02/1966: Decimalisation of the Australian currency

Australia adopted decimal currency, replacing the pound with the Australian dollar, symbol 'A$'.
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