Historic Eritrean nakfa Malagasy Ariary

Eritrean nakfa malagasy ariary history for January 2024. The highest quote for this month is 304.53 (06/01/2024) and the lowest 304.53 (07/01/2024). The difference between high and low is 0.

ERN MGA average rate for January 2024 is 301.19333, the change between 01/01/2024 and 31/01/2024 is +1.32 %.

01 January 20241 ERN = 303.4 MGA
02 January 20241 ERN = 303.6 MGA
03 January 20241 ERN = 302.7 MGA
04 January 20241 ERN = 302.3 MGA
05 January 20241 ERN = 303.6 MGA
06 January 20241 ERN = 304.5 MGA
07 January 20241 ERN = 304.5 MGA
08 January 20241 ERN = 301.4 MGA
09 January 20241 ERN = 303.9 MGA
10 January 20241 ERN = 300.8 MGA
11 January 20241 ERN = 300.8 MGA
12 January 20241 ERN = 300.4 MGA
14 January 20241 ERN = 303.7 MGA
15 January 20241 ERN = 299.9 MGA
16 January 20241 ERN = 299.2 MGA
17 January 20241 ERN = 300.1 MGA
18 January 20241 ERN = 301.3 MGA
19 January 20241 ERN = 301.3 MGA
22 January 20241 ERN = 299.3 MGA
23 January 20241 ERN = 300.3 MGA
24 January 20241 ERN = 298.6 MGA
25 January 20241 ERN = 299.9 MGA
26 January 20241 ERN = 300.3 MGA
28 January 20241 ERN = 300.8 MGA
29 January 20241 ERN = 297.8 MGA
30 January 20241 ERN = 298.6 MGA
31 January 20241 ERN = 299.3 MGA

01/01/2023: Planned Fourth Redenomination of Ariary

Madagascar announces plans for the fourth redenomination of the Ariary, aiming to simplify the currency system further.

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.

01/01/2017: Third Redenomination of Ariary

The Malagasy Ariary experiences its third redenomination, resulting in the currency being divided by 5, making 1 new Ariary equal to 5 old Ariary.

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.

01/08/2003: Second Redenomination of Ariary

The Malagasy Ariary goes through its second redenomination, with 1 new Ariary equal to 5 old Ariary.

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.

16/12/1993: First Redenomination of Ariary

The Malagasy Ariary undergoes its first redenomination, replacing the currency at a ratio of 1 new Ariary to 5 old Ariary.

01/01/1983: Introduction of Malagasy Ariary

The Malagasy Ariary is introduced as the new official currency of Madagascar, replacing the Malagasy Franc.

26/06/1975: Independence of Madagascar

Madagascar declares independence from French colonial rule, leading to changes in the national currency.

26/06/1961: Introduction of Malagasy Franc

Malagasy Franc introduced as the official currency of Madagascar to replace the French Franc.
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