Historic Eritrean nakfa Guinean franc

Eritrean nakfa guinean franc history for January 2024. The highest quote for this month is 568.35 (06/01/2024) and the lowest 566.76 (01/01/2024). The difference between high and low is 0.28.

ERN GNF average rate for January 2024 is 565.60185, the change between 01/01/2024 and 31/01/2024 is -0.04 %.

01 January 20241 ERN = 566.2 GNF
02 January 20241 ERN = 566.8 GNF
03 January 20241 ERN = 565.5 GNF
04 January 20241 ERN = 564.7 GNF
05 January 20241 ERN = 565.4 GNF
06 January 20241 ERN = 563.9 GNF
07 January 20241 ERN = 564.8 GNF
08 January 20241 ERN = 564.1 GNF
09 January 20241 ERN = 565.4 GNF
10 January 20241 ERN = 565.6 GNF
11 January 20241 ERN = 565.4 GNF
12 January 20241 ERN = 566.1 GNF
14 January 20241 ERN = 565.1 GNF
15 January 20241 ERN = 564.1 GNF
16 January 20241 ERN = 564.3 GNF
17 January 20241 ERN = 566.3 GNF
18 January 20241 ERN = 565.7 GNF
19 January 20241 ERN = 566.8 GNF
22 January 20241 ERN = 564.4 GNF
23 January 20241 ERN = 568.4 GNF
24 January 20241 ERN = 568.7 GNF
25 January 20241 ERN = 567.4 GNF
26 January 20241 ERN = 565.7 GNF
28 January 20241 ERN = 563.9 GNF
29 January 20241 ERN = 566.2 GNF
30 January 20241 ERN = 564.4 GNF
31 January 20241 ERN = 566.5 GNF

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.

30/06/2015: Demonetization of old Guinean franc banknotes

The old series of Guinean franc banknotes, denominated in 'Syli,' ceased to be legal tender, and only the new franc banknotes remained in circulation.

22/01/2015: Dollarization policy imposed

Eritrea imposed a dollarization policy, making the US dollar the predominant currency for most transactions.

26/09/2012: Introduction of new Guinean franc coins

New coins denominated in the Guinean franc were introduced, replacing the previously used Guinean syli coins.

30/06/2010: Revaluation of the Guinean franc

The Guinean franc underwent a revaluation, with 1 new franc being equivalent to 10,000 old francs.

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.

30/06/1997: Introduction of new Guinean franc

A new series of Guinean franc banknotes, denominated in 'Syli,' was introduced as a replacement for the previous currency.

30/11/1985: Devaluation of the Guinean franc

The Guinean franc was devalued by 50%, leading to an economic crisis and high inflation.

31/05/1971: Redenomination of the Guinean franc

The Guinean franc underwent a redenomination, with 1 new franc being equivalent to 10 old francs.

01/10/1959: Introduction of Guinean franc

The Guinean franc was introduced as the official currency of Guinea following its independence from France.
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