Historic Eritrean nakfa Indonesian Rupiah

Eritrean nakfa indonesian rupiah history for February 2024. The highest quote for this month is 1047.99 (01/02/2024) and the lowest 1043.56 (01/02/2024). The difference between high and low is 0.42.

ERN IDR average rate for February 2024 is 1039.05741, the change between 01/02/2024 and 29/02/2024 is +0.23 %.

01 February 20241 ERN = 1046.38 IDR
02 February 20241 ERN = 1044.92 IDR
03 February 20241 ERN = 1040.20 IDR
04 February 20241 ERN = 1040.13 IDR
05 February 20241 ERN = 1043.61 IDR
06 February 20241 ERN = 1043.95 IDR
07 February 20241 ERN = 1043.99 IDR
08 February 20241 ERN = 1039.67 IDR
09 February 20241 ERN = 1039.17 IDR
12 February 20241 ERN = 1036.41 IDR
13 February 20241 ERN = 1033.81 IDR
14 February 20241 ERN = 1039.25 IDR
15 February 20241 ERN = 1033.43 IDR
16 February 20241 ERN = 1039.95 IDR
17 February 20241 ERN = 1036.10 IDR
18 February 20241 ERN = 1038.49 IDR
19 February 20241 ERN = 1037.07 IDR
20 February 20241 ERN = 1038.80 IDR
21 February 20241 ERN = 1039.22 IDR
22 February 20241 ERN = 1039.34 IDR
23 February 20241 ERN = 1034.37 IDR
24 February 20241 ERN = 1034.44 IDR
25 February 20241 ERN = 1034.44 IDR
26 February 20241 ERN = 1035.62 IDR
27 February 20241 ERN = 1037.72 IDR
28 February 20241 ERN = 1040.07 IDR
29 February 20241 ERN = 1044.00 IDR

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.

04/03/2020: Rupiah Hits Lowest Point

The Rupiah reached its weakest level against the US dollar since the 1998 financial crisis, reflecting global economic uncertainty and the impact of the COVID-19 pandemic.

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.

27/07/2015: New Banknotes and Coins

The Bank of Indonesia introduced a new series of banknotes and coins with enhanced security features and updated designs to commemorate the country's achievements.

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.

20/05/1998: Revaluation of Rupiah

As a response to the financial crisis, the Indonesian government revalued the Rupiah by removing three zeros from the currency, aiming to stabilize its value.

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: Asian Financial Crisis

Indonesia, along with other Southeast Asian nations, experienced a severe currency crisis as the Rupiah plummeted in value against the US dollar, leading to economic turmoil.

29/11/1965: New Rupiah Symbol

The official symbol for the Rupiah (Rp) was introduced, replacing the previous abbreviation of 'Rp.' This symbol is still in use today.

31/05/1952: Currency Exchange Law

The Currency Exchange Law was enacted, establishing a fixed exchange rate for the Rupiah against the Dutch guilder, marking a significant milestone in the currency's stability.

26/12/1949: Independence of Indonesia

Following Indonesia's independence from the Netherlands, the Rupiah was introduced as the official currency of the newly formed republic.
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