Historic Eritrean nakfa Lebanese pound

Eritrean nakfa lebanese pound history for February 2024. The highest quote for this month is 5949.69 (28/02/2024) and the lowest 5947.02 (28/02/2024). The difference between high and low is 0.04.

ERN LBP average rate for February 2024 is 2776.0152, the change between 01/02/2024 and 29/02/2024 is -494.21 %.

01 February 20241 ERN = 998.9 LBP
02 February 20241 ERN = 996.6 LBP
03 February 20241 ERN = 996.7 LBP
04 February 20241 ERN = 996.7 LBP
05 February 20241 ERN = 1004.03 LBP
06 February 20241 ERN = 997.3 LBP
07 February 20241 ERN = 1006.08 LBP
08 February 20241 ERN = 996.7 LBP
09 February 20241 ERN = 996.0 LBP
12 February 20241 ERN = 995.3 LBP
13 February 20241 ERN = 995.4 LBP
14 February 20241 ERN = 1000.47 LBP
15 February 20241 ERN = 994.6 LBP
16 February 20241 ERN = 995.4 LBP
19 February 20241 ERN = 995.0 LBP
20 February 20241 ERN = 993.1 LBP
21 February 20241 ERN = 5920.06 LBP
22 February 20241 ERN = 5946.92 LBP
23 February 20241 ERN = 5938.95 LBP
24 February 20241 ERN = 5938.95 LBP
25 February 20241 ERN = 5938.95 LBP
26 February 20241 ERN = 5937.28 LBP
27 February 20241 ERN = 5938.95 LBP
28 February 20241 ERN = 5946.84 LBP
29 February 20241 ERN = 5935.42 LBP

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.

17/10/2019: Protests against economic crisis

Mass protests erupted in Lebanon due to economic crisis, leading to further depreciation of the Lebanese pound.

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.

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.

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.

03/11/1997: Revaluation of the Lebanese pound

The Lebanese pound was revalued at a rate of 1,500 LBP = 1 USD, ending the fixed exchange rate with the US dollar.

01/01/1986: Introduction of the parallel exchange market

The parallel exchange market was introduced in Lebanon, leading to a diverging exchange rate between the official and unofficial markets.

01/01/1976: Lebanese Civil War

The Lebanese Civil War began, causing significant economic instability and devaluation of the Lebanese pound.

01/01/1961: Pegged to the US dollar

The Lebanese pound was pegged to the US dollar at an exchange rate of 1 LBP = 1.5 USD.

27/11/1941: Devaluation of the Lebanese pound

The Lebanese pound was devalued by 41.9% following the breakup of the French franc.

01/10/1920: Lebanese pound introduced

The Lebanese pound was introduced at a fixed exchange rate of 1 pound = 20 French francs during the French mandate period.