Historic Eritrean nakfa Moroccan dirham

Eritrean nakfa moroccan dirham history for February 2024. The highest quote for this month is 0.66888 (21/02/2024) and the lowest 0.66766 (17/02/2024). The difference between high and low is 0.18.

ERN MAD average rate for February 2024 is 0.6621, the change between 01/02/2024 and 29/02/2024 is +1.81 %.

01 February 20241 ERN = 0.6634 MAD
02 February 20241 ERN = 0.6647 MAD
03 February 20241 ERN = 0.6668 MAD
04 February 20241 ERN = 0.6668 MAD
05 February 20241 ERN = 0.6478 MAD
06 February 20241 ERN = 0.6483 MAD
07 February 20241 ERN = 0.6682 MAD
08 February 20241 ERN = 0.6684 MAD
09 February 20241 ERN = 0.6664 MAD
12 February 20241 ERN = 0.6447 MAD
13 February 20241 ERN = 0.6659 MAD
14 February 20241 ERN = 0.6680 MAD
15 February 20241 ERN = 0.6691 MAD
16 February 20241 ERN = 0.6672 MAD
17 February 20241 ERN = 0.6677 MAD
18 February 20241 ERN = 0.6677 MAD
19 February 20241 ERN = 0.6468 MAD
20 February 20241 ERN = 0.6490 MAD
21 February 20241 ERN = 0.6689 MAD
22 February 20241 ERN = 0.6695 MAD
23 February 20241 ERN = 0.6672 MAD
24 February 20241 ERN = 0.6671 MAD
25 February 20241 ERN = 0.6671 MAD
26 February 20241 ERN = 0.6456 MAD
27 February 20241 ERN = 0.6648 MAD
28 February 20241 ERN = 0.6684 MAD
29 February 20241 ERN = 0.6514 MAD

15/09/2021: Digitization of the Moroccan dirham

Morocco announced plans to digitize the dirham, introducing a central bank digital currency (CBDC) for financial transactions in the country.

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.

02/06/2014: Introduction of the fourth dirham

Another series of Moroccan dirham banknotes was issued, featuring new designs and enhanced security features.

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.

02/07/2005: Dirham's exchange rate floatation

Morocco moved to a floating exchange rate regime, allowing the dirham to fluctuate based on market forces.

01/05/1999: Introduction of the third dirham

A new series of Moroccan dirham banknotes was introduced with enhanced security features.

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.

12/12/1980: Introduction of the second dirham

A new series of Moroccan dirham banknotes was issued to replace the first series.

17/10/1974: Adoption of the dirham as the currency

The Moroccan franc was replaced by the Moroccan dirham (MAD) as the official currency.

26/11/1960: Introduction of the Moroccan franc (FRF)

The Moroccan franc was introduced as the official currency of Morocco.
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