Historic Eritrean nakfa Mexican peso

Eritrean nakfa mexican peso history for February 2024. The highest quote for this month is 1.1468 (01/02/2024) and the lowest 1.1372 (05/02/2024). The difference between high and low is 0.84.

ERN MXN average rate for February 2024 is 1.13449, the change between 01/02/2024 and 29/02/2024 is +0.62 %.

01 February 20241 ERN = 1.143 MXN
02 February 20241 ERN = 1.134 MXN
03 February 20241 ERN = 1.136 MXN
04 February 20241 ERN = 1.138 MXN
05 February 20241 ERN = 1.138 MXN
06 February 20241 ERN = 1.137 MXN
07 February 20241 ERN = 1.130 MXN
08 February 20241 ERN = 1.133 MXN
09 February 20241 ERN = 1.137 MXN
12 February 20241 ERN = 1.135 MXN
13 February 20241 ERN = 1.133 MXN
14 February 20241 ERN = 1.142 MXN
15 February 20241 ERN = 1.135 MXN
16 February 20241 ERN = 1.131 MXN
17 February 20241 ERN = 1.130 MXN
18 February 20241 ERN = 1.131 MXN
19 February 20241 ERN = 1.131 MXN
20 February 20241 ERN = 1.132 MXN
21 February 20241 ERN = 1.132 MXN
22 February 20241 ERN = 1.132 MXN
23 February 20241 ERN = 1.135 MXN
24 February 20241 ERN = 1.135 MXN
25 February 20241 ERN = 1.134 MXN
26 February 20241 ERN = 1.137 MXN
27 February 20241 ERN = 1.134 MXN
28 February 20241 ERN = 1.134 MXN
29 February 20241 ERN = 1.135 MXN

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.

22/01/2015: Dollarization policy imposed

Eritrea imposed a dollarization policy, making the US dollar the predominant currency for most transactions.

20/06/2012: Mexican Peso Becomes the Most Traded Emerging Market Currency

The Mexican peso surpassed the Brazilian real to become the most traded currency among emerging markets, reflecting Mexico's growing economic importance.

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.

01/01/2003: Introduction of the New Peso Symbol

The Mexican peso adopted a new symbol, replacing the old symbol (₱) with a capital 'P' with double horizontal lines (MXN) to symbolize the currency.

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.

20/12/1994: Tequila Crisis

Mexico experienced a severe economic crisis and an abrupt devaluation of the peso as a result of the devaluation of the Thai baht, causing investors to flee emerging markets.

01/01/1993: Implementation of the North American Free Trade Agreement (NAFTA)

NAFTA came into effect, promoting trade and investment between Mexico, the United States, and Canada, leading to increased stability and growth in the Mexican economy.

06/07/1988: Introduction of the New Peso

Due to hyperinflation and currency devaluation, Mexico introduced a new currency, called the New Peso, where 1000 old pesos were replaced by 1 new peso.

12/08/1982: Mexican Debt Crisis

Mexico defaulted on its external debt, leading to a sharp devaluation of the peso and a severe economic crisis, requiring an emergency loan from the International Monetary Fund (IMF).

13/08/1970: Devaluation of the Peso

In response to global inflation, the Mexican government devalued the peso by 20% against the US dollar, leading to economic instability and a decline in purchasing power.
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