Historic Eritrean nakfa Mongolian Tugrik

Eritrean nakfa mongolian tugrik history for January 2024. The highest quote for this month is 226.77 (03/01/2024) and the lowest 226.6 (02/01/2024). The difference between high and low is 0.07.

ERN MNT average rate for January 2024 is 226.23407, the change between 01/01/2024 and 31/01/2024 is +0.14 %.

01 January 20241 ERN = 226.3 MNT
02 January 20241 ERN = 226.3 MNT
03 January 20241 ERN = 226.6 MNT
04 January 20241 ERN = 226.2 MNT
05 January 20241 ERN = 226.2 MNT
06 January 20241 ERN = 226.2 MNT
07 January 20241 ERN = 226.2 MNT
08 January 20241 ERN = 226.5 MNT
09 January 20241 ERN = 226.2 MNT
10 January 20241 ERN = 226.5 MNT
11 January 20241 ERN = 226.2 MNT
12 January 20241 ERN = 226.5 MNT
14 January 20241 ERN = 226.5 MNT
15 January 20241 ERN = 226.2 MNT
16 January 20241 ERN = 226.2 MNT
17 January 20241 ERN = 226.5 MNT
18 January 20241 ERN = 226.0 MNT
19 January 20241 ERN = 226.4 MNT
22 January 20241 ERN = 226.1 MNT
23 January 20241 ERN = 226.4 MNT
24 January 20241 ERN = 226.1 MNT
25 January 20241 ERN = 226.1 MNT
26 January 20241 ERN = 225.9 MNT
28 January 20241 ERN = 225.9 MNT
29 January 20241 ERN = 226.2 MNT
30 January 20241 ERN = 225.8 MNT
31 January 20241 ERN = 226.0 MNT

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: Floating Exchange Rate Regime

Mongolia adopts a fully floating exchange rate regime for the Tugrik, allowing the currency's value to be determined by market forces without intervention from the central bank.

22/01/2015: Dollarization policy imposed

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

26/06/2009: Currency Redenomination

Mongolia redenominates its currency, replacing the old Tugrik banknotes with new ones at a ratio of 1 to 1000, in an effort to simplify transactions and reduce inflation.

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.

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.

06/03/1993: Mongolia Joins IMF

Mongolia becomes a member of the International Monetary Fund (IMF), influencing monetary policies and further shaping the development of the Tugrik currency.

01/07/1992: Tugrik Exchange Rate Liberalization

Mongolia liberalizes the exchange rate of the Tugrik, allowing it to fluctuate based on market forces and paving the way for a more flexible currency system.

21/12/1991: Transition to Market Economy

Mongolia undergoes a transition from a centrally planned economy to a market economy, leading to major changes in the Tugrik currency system.

04/07/1946: Mongolian People's Bank Established

The Mongolian People's Bank is established as the central bank of Mongolia, responsible for issuing and managing the Tugrik currency.

01/12/1925: Introduction of the Tugrik Currency

Mongolia officially introduces the Tugrik as its national currency, replacing the previous currency system.
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