Historic Eritrean nakfa Icelandic Krona

Eritrean nakfa icelandic krona history for January 2024. The highest quote for this month is 9.16 (05/01/2024) and the lowest 9.113 (03/01/2024). The difference between high and low is 0.51.

ERN ISK average rate for January 2024 is 9.07083, the change between 01/01/2024 and 31/01/2024 is -0.7 %.

01 January 20241 ERN = 9.01 ISK
02 January 20241 ERN = 9.01 ISK
03 January 20241 ERN = 9.13 ISK
04 January 20241 ERN = 9.13 ISK
05 January 20241 ERN = 9.10 ISK
08 January 20241 ERN = 9.14 ISK
09 January 20241 ERN = 9.11 ISK
10 January 20241 ERN = 9.12 ISK
11 January 20241 ERN = 9.04 ISK
12 January 20241 ERN = 9.06 ISK
15 January 20241 ERN = 9.05 ISK
16 January 20241 ERN = 9.03 ISK
17 January 20241 ERN = 9.10 ISK
18 January 20241 ERN = 9.09 ISK
19 January 20241 ERN = 9.11 ISK
22 January 20241 ERN = 9.05 ISK
23 January 20241 ERN = 9.05 ISK
24 January 20241 ERN = 9.04 ISK
25 January 20241 ERN = 9.00 ISK
26 January 20241 ERN = 9.04 ISK
29 January 20241 ERN = 9.07 ISK
30 January 20241 ERN = 9.08 ISK
31 January 20241 ERN = 9.07 ISK

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.

15/11/2018: New Currency Notes Introduced

Iceland released updated banknotes and coins featuring improved security measures and new designs, modernizing the Krona's physical appearance.

30/10/2018: Currency devaluation

Eritrea devalued the nakfa by 14%, reducing its official exchange rate to 1 USD = 15 ERN.

15/03/2015: Capital Controls Lifted

Iceland lifted its capital controls, implemented after the financial crisis, allowing for more flexible foreign exchange transactions.

22/01/2015: Dollarization policy imposed

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

14/11/2010: IMF Loan Approved

Iceland secured a $2.1 billion loan from the International Monetary Fund, stabilizing the Krona and aiding economic recovery.

06/10/2008: Financial Crisis Begins

The collapse of Icelandic banks and subsequent financial crisis severely devalued the Krona, leading to economic turmoil.

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.

05/03/1981: Stock Exchange Established

The Icelandic Stock Exchange was founded, promoting economic growth and affecting the Krona's value.

10/05/1940: Occupation of Iceland

Following the German occupation of Denmark, Iceland became occupied by British forces, impacting the currency's stability.

01/01/1922: Currency Board Established

The Icelandic Krona was introduced under the Danish Krone pegged to 1 Krone = 100 aurar.
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