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.
01/05/2017: Introduction of a two-dollar coin
Belize introduced a new denomination in the form of a two-dollar coin, reducing the dependency on smaller denomination banknotes.
22/01/2015: Dollarization policy imposed
Eritrea imposed a dollarization policy, making the US dollar the predominant currency for most transactions.
26/09/2011: Launching of new designs
The Central Bank of Belize introduced a new series of banknotes with updated designs, depicting prominent national landmarks and personalities.
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.
24/06/2001: Introduction of polymer banknotes
Belize became one of the first countries in the region to introduce polymer banknotes, enhancing durability and security.
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.
01/04/1990: Establishment of the Central Bank of Belize
The Central Bank of Belize was established to oversee monetary policies and ensure financial stability in the country.
01/12/1982: Conversion to decimal currency
Belize adopted a decimal currency system with the introduction of a new series of banknotes and coins.
01/07/1978: Independence of Belize
Belize gained independence from the United Kingdom, solidifying the Belize dollar as the national currency.
01/11/1976: Introduction of the Belize dollar
The Belize dollar was introduced as the official currency of Belize to replace the British Honduran dollar.