Eritrean nakfa malaysian ringgit exchange rate history (ERN MYR) October 2023

Eritrean nakfa malaysian ringgit history for October 2023. The highest quote for this month is 0.31788 (23/10/2023) and the lowest 0.31728 (24/10/2023). The difference between high and low is 0.19.

ERN MYR average rate for October 2023 is 0.31505, the change between 01/10/2023 and 31/10/2023 is -1.42 %.

01 October 2023	1 ERN = 0.3119 MYR
03 October 2023	1 ERN = 0.3128 MYR
04 October 2023	1 ERN = 0.3133 MYR
06 October 2023	1 ERN = 0.3140 MYR
07 October 2023	1 ERN = 0.3130 MYR
09 October 2023	1 ERN = 0.3130 MYR
10 October 2023	1 ERN = 0.3143 MYR
11 October 2023	1 ERN = 0.3139 MYR
13 October 2023	1 ERN = 0.3130 MYR
16 October 2023	1 ERN = 0.3136 MYR
17 October 2023	1 ERN = 0.3145 MYR
18 October 2023	1 ERN = 0.3146 MYR
19 October 2023	1 ERN = 0.3147 MYR
20 October 2023	1 ERN = 0.3165 MYR
21 October 2023	1 ERN = 0.3166 MYR
22 October 2023	1 ERN = 0.3166 MYR
23 October 2023	1 ERN = 0.3162 MYR
24 October 2023	1 ERN = 0.3162 MYR
25 October 2023	1 ERN = 0.3181 MYR
26 October 2023	1 ERN = 0.3170 MYR
27 October 2023	1 ERN = 0.3174 MYR
29 October 2023	1 ERN = 0.3169 MYR
30 October 2023	1 ERN = 0.3169 MYR
31 October 2023	1 ERN = 0.3163 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.

Historic Eritrean nakfa Malaysian ringgit