Historic Eritrean nakfa Kuwaiti Dinar

Eritrean nakfa kuwaiti dinar history for January 2024. The highest quote for this month is 0.020428 (18/01/2024) and the lowest 0.020431 (06/01/2024). The difference between high and low is -0.01.

ERN KWD average rate for January 2024 is 0.02039, the change between 01/01/2024 and 31/01/2024 is -0.27 %.

01 January 20241 ERN = 0.0204 KWD
02 January 20241 ERN = 0.0204 KWD
03 January 20241 ERN = 0.0204 KWD
04 January 20241 ERN = 0.0204 KWD
05 January 20241 ERN = 0.0204 KWD
06 January 20241 ERN = 0.0204 KWD
07 January 20241 ERN = 0.0204 KWD
08 January 20241 ERN = 0.0204 KWD
09 January 20241 ERN = 0.0204 KWD
10 January 20241 ERN = 0.0204 KWD
11 January 20241 ERN = 0.0204 KWD
12 January 20241 ERN = 0.0204 KWD
14 January 20241 ERN = 0.0204 KWD
15 January 20241 ERN = 0.0204 KWD
16 January 20241 ERN = 0.0204 KWD
17 January 20241 ERN = 0.0204 KWD
18 January 20241 ERN = 0.0204 KWD
19 January 20241 ERN = 0.0204 KWD
22 January 20241 ERN = 0.0204 KWD
23 January 20241 ERN = 0.0204 KWD
24 January 20241 ERN = 0.0204 KWD
25 January 20241 ERN = 0.0204 KWD
26 January 20241 ERN = 0.0204 KWD
28 January 20241 ERN = 0.0204 KWD
29 January 20241 ERN = 0.0204 KWD
30 January 20241 ERN = 0.0204 KWD
31 January 20241 ERN = 0.0204 KWD

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.

20/05/2007: Kuwaiti Dinar Redenominated

The Kuwaiti Dinar underwent a redenomination, with the introduction of new banknotes and removal of three zeros from the currency.

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.

20/03/2003: US Invasion of Iraq

The United States and its allies invaded Iraq, leading to a period of uncertainty and affecting the value of the Kuwaiti Dinar.

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.

25/03/1991: Kuwait Liberated

Coalition forces led by the United States liberated Kuwait from Iraqi occupation, restoring stability to the country and its currency.

02/08/1990: Iraqi Invasion of Kuwait

Iraqi forces invaded Kuwait, leading to the Gulf War and causing a significant decline in the value of the Kuwaiti Dinar.

16/09/1980: Iraq-Iran War Begins

The Iraq-Iran War started, leading to economic instability in the region and affecting the value of the Kuwaiti Dinar.

20/10/1975: Kuwait Dinar Pegged to Special Drawing Rights (SDR)

Kuwait pegged its currency to a basket of international currencies known as Special Drawing Rights (SDR) instead of the US Dollar.

02/01/1961: Kuwaiti Dinar Introduced

The Kuwaiti Dinar (KWD) was officially introduced as the currency of Kuwait, replacing the Gulf Rupee.
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