Eritrean nakfa south korean won exchange rate history (ERN KRW) December 2023

Eritrean nakfa south korean won history for December 2023. The highest quote for this month is 88.059 (07/12/2023) and the lowest 87.468 (10/12/2023). The difference between high and low is 0.67.

ERN KRW average rate for December 2023 is 86.31048, the change between 01/12/2023 and 31/12/2023 is +1.58 %.

01 December 2023	1 ERN = 86.16 KRW
02 December 2023	1 ERN = 85.91 KRW
03 December 2023	1 ERN = 85.97 KRW
04 December 2023	1 ERN = 86.33 KRW
05 December 2023	1 ERN = 86.78 KRW
06 December 2023	1 ERN = 87.27 KRW
07 December 2023	1 ERN = 87.18 KRW
08 December 2023	1 ERN = 87.23 KRW
10 December 2023	1 ERN = 87.47 KRW
11 December 2023	1 ERN = 87.36 KRW
12 December 2023	1 ERN = 87.17 KRW
13 December 2023	1 ERN = 86.94 KRW
14 December 2023	1 ERN = 85.85 KRW
15 December 2023	1 ERN = 85.73 KRW
16 December 2023	1 ERN = 86.29 KRW
17 December 2023	1 ERN = 86.29 KRW
18 December 2023	1 ERN = 84.82 KRW
19 December 2023	1 ERN = 86.46 KRW
20 December 2023	1 ERN = 86.23 KRW
21 December 2023	1 ERN = 86.18 KRW
22 December 2023	1 ERN = 85.83 KRW
23 December 2023	1 ERN = 86.18 KRW
24 December 2023	1 ERN = 86.08 KRW
26 December 2023	1 ERN = 86.02 KRW
27 December 2023	1 ERN = 85.86 KRW
28 December 2023	1 ERN = 86.03 KRW
29 December 2023	1 ERN = 84.79 KRW

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.

27/10/2008: Global Financial Crisis

The Korean Won faced significant volatility during the global financial crisis, as global markets tumbled and investor confidence wavered.

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.

01/01/1998: Establishment of IMF Program

South Korea agreed to an International Monetary Fund (IMF) bailout package, which stabilized the value of the Korean Won and initiated economic reforms.

03/12/1997: Asian Financial Crisis

The Korean Won experienced a sharp depreciation during the Asian Financial Crisis, causing severe economic hardships and requiring international assistance.

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.

27/02/1980: Declaration of Martial Law

Amidst political turmoil, President Chun Doo-hwan declared martial law, causing economic instability and impacting the value of the Korean Won.

22/06/1962: Introduction of the Hwan

To combat inflation, the South Korean government introduced the Hwan as the new currency, replacing the old Korean Won.

27/07/1953: Armistice Agreement

Following the Korean War, the Armistice Agreement was signed, stabilizing the region and aiding in the recovery of the Korean Won.

15/08/1945: Liberation from Japanese Rule

Upon the end of Japanese colonial rule, the Korean Won was introduced as the official currency of South Korea.

Historic Eritrean nakfa South Korean Won