01/07/2020: Euro as legal tender
North Macedonia officially adopted the Euro as its currency, replacing the Macedonian Denar for all monetary transactions.
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.
15/05/2018: Denar's symbol adoption
The official symbol for the Macedonian Denar (den) was adopted, representing the currency in both domestic and international transactions.
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.
10/10/2005: Denar's full Euro peg
The Macedonian Denar was fully pegged to the Euro at a fixed exchange rate of 61.5 Denars to 1 Euro.
29/04/2003: Replacement of banknotes
New series of banknotes with enhanced security features were introduced, replacing the older versions.
05/11/2001: Denar's devaluation
Due to the political crisis in Macedonia, the Denar underwent a significant devaluation, losing around 40% of its value against the Euro.
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.
15/05/1995: Denar's peg to the German Mark
The Macedonian Denar was pegged to the German Mark at a rate of 1 Denar to 1.5 Deutsche Mark, establishing a stable exchange rate.
26/11/1992: Introduction of the Macedonian Denar
The Macedonian Denar was introduced as the official currency of the Republic of Macedonia following its declaration of independence from Yugoslavia.