Historic Eritrean nakfa Egyptian Pound

Eritrean nakfa egyptian pound history for February 2024. The highest quote for this month is 2.0632 (05/02/2024) and the lowest 2.0504 (06/02/2024). The difference between high and low is 0.62.

ERN EGP average rate for February 2024 is 2.04965, the change between 01/02/2024 and 29/02/2024 is -0.25 %.

01 February 20241 ERN = 2.049 EGP
02 February 20241 ERN = 2.051 EGP
03 February 20241 ERN = 2.050 EGP
04 February 20241 ERN = 2.050 EGP
05 February 20241 ERN = 2.061 EGP
06 February 20241 ERN = 2.051 EGP
07 February 20241 ERN = 2.049 EGP
08 February 20241 ERN = 2.051 EGP
09 February 20241 ERN = 2.048 EGP
12 February 20241 ERN = 2.039 EGP
13 February 20241 ERN = 2.048 EGP
14 February 20241 ERN = 2.049 EGP
15 February 20241 ERN = 2.051 EGP
16 February 20241 ERN = 2.049 EGP
17 February 20241 ERN = 2.047 EGP
18 February 20241 ERN = 2.047 EGP
19 February 20241 ERN = 2.040 EGP
20 February 20241 ERN = 2.051 EGP
21 February 20241 ERN = 2.051 EGP
22 February 20241 ERN = 2.052 EGP
23 February 20241 ERN = 2.049 EGP
24 February 20241 ERN = 2.047 EGP
25 February 20241 ERN = 2.054 EGP
26 February 20241 ERN = 2.051 EGP
27 February 20241 ERN = 2.051 EGP
28 February 20241 ERN = 2.051 EGP
29 February 20241 ERN = 2.054 EGP

03/11/2020: Economic Impact of COVID-19

The COVID-19 pandemic caused economic disruptions globally, affecting the Egyptian Pound's exchange rate and foreign reserves.

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.

14/11/1999: Liberalization of Exchange Rate

The Egyptian government implemented a managed float exchange rate system, allowing the Pound to fluctuate based on market forces.

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.

12/08/1987: Introduction of New Egyptian Pound

A new Egyptian Pound banknote was introduced to combat counterfeiting and improve security features.

14/09/1962: Devaluation of the Pound

The Egyptian government devalued the Pound by 55%, leading to a significant decrease in its value.

23/07/1952: Overthrow of the Monarchy

The Egyptian monarchy was overthrown, leading to political and economic changes that affected the value of the Egyptian Pound.

02/05/1885: Establishment of Central Bank of Egypt

The Central Bank of Egypt was established to regulate the currency and banking system in Egypt.

29/07/1834: Introduction of Egyptian Pound

The Egyptian Pound was introduced as the official currency of Egypt, replacing the piastre.
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