Historic Eritrean nakfa Indian Rupee

Eritrean nakfa indian rupee history for February 2024. The highest quote for this month is 5.5159 (12/02/2024) and the lowest 5.5158 (14/02/2024). The difference between high and low is 0.

ERN INR average rate for February 2024 is 5.50872, the change between 01/02/2024 and 29/02/2024 is +0.04 %.

01 February 20241 ERN = 5.51 INR
02 February 20241 ERN = 5.51 INR
03 February 20241 ERN = 5.51 INR
04 February 20241 ERN = 5.51 INR
05 February 20241 ERN = 5.51 INR
06 February 20241 ERN = 5.52 INR
07 February 20241 ERN = 5.51 INR
08 February 20241 ERN = 5.52 INR
09 February 20241 ERN = 5.51 INR
12 February 20241 ERN = 5.52 INR
13 February 20241 ERN = 5.51 INR
14 February 20241 ERN = 5.51 INR
15 February 20241 ERN = 5.52 INR
16 February 20241 ERN = 5.51 INR
17 February 20241 ERN = 5.51 INR
18 February 20241 ERN = 5.51 INR
19 February 20241 ERN = 5.51 INR
20 February 20241 ERN = 5.52 INR
21 February 20241 ERN = 5.50 INR
22 February 20241 ERN = 5.51 INR
23 February 20241 ERN = 5.50 INR
24 February 20241 ERN = 5.50 INR
25 February 20241 ERN = 5.50 INR
26 February 20241 ERN = 5.51 INR
27 February 20241 ERN = 5.50 INR
28 February 20241 ERN = 5.51 INR
29 February 20241 ERN = 5.51 INR

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.

24/03/2020: COVID-19 Impact on Indian Rupee

The global COVID-19 pandemic caused significant volatility in the Indian Rupee exchange rate, leading to depreciation against major international currencies.

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.

08/11/2016: Demonetization

The Indian government announced the demonetization of ₹500 and ₹1,000 banknotes, requiring individuals to exchange or deposit their old currency notes at banks.

22/01/2015: Dollarization policy imposed

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

03/07/2007: Indian Rupee Symbol

The Indian Rupee was given its own unique symbol ₹, representing the integration of the Indian Rupee into the global currency landscape.

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.

21/06/1991: Liberalization of Indian Economy

India initiated economic reforms, including the liberalization of foreign exchange controls. This led to the beginning of the exchange rate regime reforms for the Indian Rupee.

24/06/1957: Decimalization of Indian Rupee

The Indian Rupee was decimalized, dividing it into 100 paise. This change simplified the currency system and introduced a uniform monetary system across the country.

15/08/1947: Indian Independence

India gained independence from British rule, leading to the establishment of the Reserve Bank of India as the central bank and the Indian Rupee as the official currency.

01/01/1862: Introduction of Indian Rupee

Indian Rupee was introduced by the British government as the official currency of British India. It replaced various local and foreign currencies that were in circulation.
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