Historic Eritrean nakfa Moroccan dirham

Eritrean nakfa moroccan dirham history for January 2024. The highest quote for this month is 0.6649 (30/01/2024) and the lowest 0.66029 (28/01/2024). The difference between high and low is 0.69.

ERN MAD average rate for January 2024 is 0.65385, the change between 01/01/2024 and 31/01/2024 is -4.23 %.

01 January 20241 ERN = 0.6377 MAD
02 January 20241 ERN = 0.6382 MAD
03 January 20241 ERN = 0.6596 MAD
04 January 20241 ERN = 0.6587 MAD
05 January 20241 ERN = 0.6566 MAD
06 January 20241 ERN = 0.6600 MAD
07 January 20241 ERN = 0.6581 MAD
08 January 20241 ERN = 0.6385 MAD
09 January 20241 ERN = 0.6587 MAD
10 January 20241 ERN = 0.6407 MAD
11 January 20241 ERN = 0.6600 MAD
12 January 20241 ERN = 0.6609 MAD
14 January 20241 ERN = 0.6609 MAD
15 January 20241 ERN = 0.6394 MAD
16 January 20241 ERN = 0.6393 MAD
17 January 20241 ERN = 0.6432 MAD
18 January 20241 ERN = 0.6628 MAD
19 January 20241 ERN = 0.6637 MAD
22 January 20241 ERN = 0.6389 MAD
23 January 20241 ERN = 0.6605 MAD
24 January 20241 ERN = 0.6623 MAD
25 January 20241 ERN = 0.6605 MAD
26 January 20241 ERN = 0.6622 MAD
28 January 20241 ERN = 0.6617 MAD
29 January 20241 ERN = 0.6414 MAD
30 January 20241 ERN = 0.6649 MAD
31 January 20241 ERN = 0.6647 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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