Historic Eritrean nakfa Hong Kong dollar

Eritrean nakfa hong kong dollar history for February 2024. The highest quote for this month is 0.51962 (04/02/2024) and the lowest 0.51999 (29/02/2024). The difference between high and low is -0.07.

ERN HKD average rate for February 2024 is 0.5193, the change between 01/02/2024 and 29/02/2024 is -0.26 %.

01 February 20241 ERN = 0.5188 HKD
02 February 20241 ERN = 0.5196 HKD
03 February 20241 ERN = 0.5196 HKD
04 February 20241 ERN = 0.5196 HKD
05 February 20241 ERN = 0.5190 HKD
06 February 20241 ERN = 0.5197 HKD
07 February 20241 ERN = 0.5191 HKD
08 February 20241 ERN = 0.5195 HKD
09 February 20241 ERN = 0.5190 HKD
12 February 20241 ERN = 0.5196 HKD
13 February 20241 ERN = 0.5188 HKD
14 February 20241 ERN = 0.5189 HKD
15 February 20241 ERN = 0.5195 HKD
16 February 20241 ERN = 0.5189 HKD
17 February 20241 ERN = 0.5191 HKD
18 February 20241 ERN = 0.5189 HKD
19 February 20241 ERN = 0.5190 HKD
20 February 20241 ERN = 0.5197 HKD
21 February 20241 ERN = 0.5190 HKD
22 February 20241 ERN = 0.5196 HKD
23 February 20241 ERN = 0.5191 HKD
24 February 20241 ERN = 0.5192 HKD
25 February 20241 ERN = 0.5192 HKD
26 February 20241 ERN = 0.5199 HKD
27 February 20241 ERN = 0.5192 HKD
28 February 20241 ERN = 0.5199 HKD
29 February 20241 ERN = 0.5201 HKD

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.

18/05/2005: Removal of Ten Hong Kong Dollars Note

The Hong Kong Monetary Authority announced the removal of the HKD 10 paper note from circulation, encouraging the usage of electronic payment methods and reducing printing costs.

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.

01/07/1997: Hong Kong's Handover to China

Hong Kong was officially handed over to China, marking the end of British colonial rule but maintaining the Hong Kong Dollar as its currency under the 'one country, two systems' principle.

17/10/1991: Linked Exchange Rate System

The Linked Exchange Rate System (LERS) was implemented, establishing a narrow trading range of HKD 7.75 to 7.85 against the U.S. Dollar, backed by stringent measures to maintain stability.

31/12/1983: Joint Declaration on the Future of Hong Kong

The Sino-British Joint Declaration was signed, affirming Hong Kong's return to China in 1997 and ensuring the continuity of the Hong Kong Dollar as its official currency.

22/05/1972: Pegging to the U.S. Dollar

As the British Pound faced pressures in the foreign exchange market, Hong Kong decided to switch the peg to the U.S. Dollar at a rate of HKD 5.65 to USD 1.

12/09/1935: Pegging to the Sterling

The Hong Kong Dollar was pegged to the British Pound (Sterling) at a fixed exchange rate of HKD 16 to GBP 1, which helped stabilize the currency.

01/01/1863: Introduction of the Hong Kong Dollar

The Hong Kong Dollar was first introduced as an official currency by the British colonial government to facilitate trade and commerce in Hong Kong.
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