Historic Eritrean nakfa Australian dollar

Eritrean nakfa australian dollar history for January 2024. The highest quote for this month is 0.10165 (17/01/2024) and the lowest 0.10105 (18/01/2024). The difference between high and low is 0.59.

ERN AUD average rate for January 2024 is 0.09969, the change between 01/01/2024 and 31/01/2024 is -3.56 %.

01 January 20241 ERN = 0.0973 AUD
02 January 20241 ERN = 0.0974 AUD
03 January 20241 ERN = 0.0982 AUD
04 January 20241 ERN = 0.0985 AUD
05 January 20241 ERN = 0.0989 AUD
06 January 20241 ERN = 0.0988 AUD
07 January 20241 ERN = 0.0988 AUD
08 January 20241 ERN = 0.0989 AUD
09 January 20241 ERN = 0.0988 AUD
10 January 20241 ERN = 0.0994 AUD
11 January 20241 ERN = 0.0990 AUD
12 January 20241 ERN = 0.0992 AUD
14 January 20241 ERN = 0.0993 AUD
15 January 20241 ERN = 0.0992 AUD
16 January 20241 ERN = 0.0998 AUD
17 January 20241 ERN = 0.1008 AUD
18 January 20241 ERN = 0.1013 AUD
19 January 20241 ERN = 0.1009 AUD
22 January 20241 ERN = 0.1006 AUD
23 January 20241 ERN = 0.1011 AUD
24 January 20241 ERN = 0.1008 AUD
25 January 20241 ERN = 0.1009 AUD
26 January 20241 ERN = 0.1008 AUD
28 January 20241 ERN = 0.1009 AUD
29 January 20241 ERN = 0.1010 AUD
30 January 20241 ERN = 0.1003 AUD
31 January 20241 ERN = 0.1008 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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