Historic Eritrean nakfa Indonesian Rupiah

Eritrean nakfa indonesian rupiah history for January 2024. The highest quote for this month is 1053.52 (25/01/2024) and the lowest 1049.37 (28/01/2024). The difference between high and low is 0.39.

ERN IDR average rate for January 2024 is 1035.47778, the change between 01/01/2024 and 31/01/2024 is -2.75 %.

01 January 20241 ERN = 1020.78 IDR
02 January 20241 ERN = 1020.77 IDR
03 January 20241 ERN = 1029.77 IDR
04 January 20241 ERN = 1032.18 IDR
05 January 20241 ERN = 1029.26 IDR
06 January 20241 ERN = 1029.20 IDR
07 January 20241 ERN = 1029.53 IDR
08 January 20241 ERN = 1028.41 IDR
09 January 20241 ERN = 1028.23 IDR
10 January 20241 ERN = 1032.19 IDR
11 January 20241 ERN = 1032.18 IDR
12 January 20241 ERN = 1033.65 IDR
14 January 20241 ERN = 1032.82 IDR
15 January 20241 ERN = 1028.75 IDR
16 January 20241 ERN = 1031.59 IDR
17 January 20241 ERN = 1038.21 IDR
18 January 20241 ERN = 1036.76 IDR
19 January 20241 ERN = 1037.42 IDR
22 January 20241 ERN = 1035.24 IDR
23 January 20241 ERN = 1040.23 IDR
24 January 20241 ERN = 1042.80 IDR
25 January 20241 ERN = 1042.77 IDR
26 January 20241 ERN = 1048.97 IDR
28 January 20241 ERN = 1049.37 IDR
29 January 20241 ERN = 1047.68 IDR
30 January 20241 ERN = 1050.30 IDR
31 January 20241 ERN = 1048.84 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.