Historic Eritrean nakfa South Korean Won

Eritrean nakfa south korean won history for January 2024. The highest quote for this month is 89.584 (17/01/2024) and the lowest 88.797 (17/01/2024). The difference between high and low is 0.88.

ERN KRW average rate for January 2024 is 87.76337, the change between 01/01/2024 and 31/01/2024 is -2.69 %.

01 January 20241 ERN = 85.84 KRW
02 January 20241 ERN = 85.84 KRW
03 January 20241 ERN = 86.89 KRW
04 January 20241 ERN = 86.90 KRW
05 January 20241 ERN = 87.01 KRW
06 January 20241 ERN = 87.29 KRW
07 January 20241 ERN = 87.20 KRW
08 January 20241 ERN = 87.25 KRW
09 January 20241 ERN = 87.05 KRW
10 January 20241 ERN = 87.69 KRW
11 January 20241 ERN = 87.43 KRW
12 January 20241 ERN = 87.18 KRW
14 January 20241 ERN = 87.26 KRW
15 January 20241 ERN = 87.12 KRW
16 January 20241 ERN = 87.57 KRW
17 January 20241 ERN = 88.89 KRW
18 January 20241 ERN = 89.19 KRW
19 January 20241 ERN = 88.88 KRW
22 January 20241 ERN = 88.47 KRW
23 January 20241 ERN = 88.95 KRW
24 January 20241 ERN = 88.71 KRW
25 January 20241 ERN = 88.25 KRW
26 January 20241 ERN = 88.66 KRW
28 January 20241 ERN = 88.70 KRW
29 January 20241 ERN = 88.82 KRW
30 January 20241 ERN = 88.47 KRW
31 January 20241 ERN = 88.15 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.
ERN KRW December 2023
ERN KRW January 2024
ERN KRW February 2024
ERN KRW March 2024
ERN KRW April 2024
ERN KRW May 2024
ERN KRW June 2024
ERN KRW July 2024
ERN KRW August 2024
ERN KRW September 2024
ERN KRW October 2024
ERN KRW November 2024
ERN KRW December 2024