Historic Eritrean nakfa Malaysian ringgit

Eritrean nakfa malaysian ringgit history for February 2024. The highest quote for this month is 0.31858 (21/02/2024) and the lowest 0.31824 (21/02/2024). The difference between high and low is 0.11.

ERN MYR average rate for February 2024 is 0.31622, the change between 01/02/2024 and 29/02/2024 is -0.97 %.

01 February 20241 ERN = 0.3137 MYR
02 February 20241 ERN = 0.3140 MYR
03 February 20241 ERN = 0.3133 MYR
04 February 20241 ERN = 0.3133 MYR
05 February 20241 ERN = 0.3129 MYR
06 February 20241 ERN = 0.3155 MYR
07 February 20241 ERN = 0.3161 MYR
08 February 20241 ERN = 0.3162 MYR
09 February 20241 ERN = 0.3164 MYR
12 February 20241 ERN = 0.3165 MYR
13 February 20241 ERN = 0.3160 MYR
14 February 20241 ERN = 0.3161 MYR
15 February 20241 ERN = 0.3178 MYR
16 February 20241 ERN = 0.3171 MYR
17 February 20241 ERN = 0.3170 MYR
18 February 20241 ERN = 0.3170 MYR
19 February 20241 ERN = 0.3170 MYR
20 February 20241 ERN = 0.3179 MYR
21 February 20241 ERN = 0.3183 MYR
22 February 20241 ERN = 0.3184 MYR
23 February 20241 ERN = 0.3169 MYR
24 February 20241 ERN = 0.3169 MYR
25 February 20241 ERN = 0.3169 MYR
26 February 20241 ERN = 0.3171 MYR
27 February 20241 ERN = 0.3169 MYR
28 February 20241 ERN = 0.3163 MYR
29 February 20241 ERN = 0.3167 MYR

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.

18/03/2020: COVID-19 Pandemic Impact

The COVID-19 pandemic caused a sharp decline in the value of the ringgit, as global markets experienced volatility and economic slowdown.

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.

12/08/2015: Ringgit Depreciation

The Malaysian ringgit experienced a significant depreciation against major currencies due to falling oil prices and global economic uncertainties.

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.

21/07/2005: Removal of Currency Peg

The Malaysian government removed the fixed exchange rate peg to the US dollar, allowing the ringgit to float freely based on market forces.

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.

02/07/1997: Asian Financial Crisis

The Malaysian ringgit was heavily affected by the Asian financial crisis, leading to a currency devaluation and introduction of capital controls.

12/06/1985: Currency Pegged to the US Dollar

The Malaysian ringgit was pegged to the US dollar at a fixed exchange rate of RM2.50 per USD to stabilize the economy.

29/08/1975: Change to Malaysian Ringgit

The Malaysian dollar was renamed as the Malaysian ringgit, with the currency symbol RM, to reflect the country's independence and identity.

12/06/1967: Introduction of the Malaysian Dollar

The Malaysian dollar was introduced as the official currency of Malaysia, replacing the Malaya and British Borneo dollar.
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