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.
01/01/2019: Redenomination of the Surinamese dollar
The Surinamese dollar underwent a redenomination with 1 new dollar (SRD) being equal to 1,000 old dollars (SRG).
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.
01/01/2011: Introduction of new banknotes
New banknotes with updated designs and security features were introduced to replace the older series of Surinamese dollar banknotes.
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.
01/01/2004: Replacement of banknotes
New banknotes were introduced with enhanced security features to replace the older series of Surinamese dollar banknotes.
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.
23/12/1991: Devaluation of the Surinamese dollar
The Surinamese dollar was devalued by 100%, resulting in an exchange rate of 1 dollar to 200 guilders.
01/10/1985: Introduction of the Surinamese dollar
The Surinamese dollar was introduced as the new currency of Suriname at a rate of 1 dollar to 1,000 guilders.
01/01/1962: Introduction of the Surinamese guilder
The Surinamese guilder was introduced as the official currency of Suriname, replacing the Dutch guilder.
31/12/1954: Independence of Suriname
Suriname gained independence from the Kingdom of the Netherlands, leading to the introduction of the Surinamese guilder as its official currency.