Historic Eritrean nakfa Namibian dollar

Eritrean nakfa namibian dollar history for February 2024. The highest quote for this month is 1.3212 (13/02/2024) and the lowest 1.2844 (27/02/2024). The difference between high and low is 2.79.

ERN NAD average rate for February 2024 is 1.26109, the change between 01/02/2024 and 29/02/2024 is -4.24 %.

01 February 20241 ERN = 1.232 NAD
02 February 20241 ERN = 1.235 NAD
03 February 20241 ERN = 1.256 NAD
04 February 20241 ERN = 1.256 NAD
05 February 20241 ERN = 1.234 NAD
06 February 20241 ERN = 1.267 NAD
07 February 20241 ERN = 1.250 NAD
08 February 20241 ERN = 1.256 NAD
09 February 20241 ERN = 1.258 NAD
12 February 20241 ERN = 1.264 NAD
13 February 20241 ERN = 1.262 NAD
14 February 20241 ERN = 1.270 NAD
15 February 20241 ERN = 1.266 NAD
16 February 20241 ERN = 1.258 NAD
17 February 20241 ERN = 1.250 NAD
18 February 20241 ERN = 1.252 NAD
19 February 20241 ERN = 1.258 NAD
20 February 20241 ERN = 1.254 NAD
21 February 20241 ERN = 1.255 NAD
22 February 20241 ERN = 1.257 NAD
23 February 20241 ERN = 1.273 NAD
24 February 20241 ERN = 1.281 NAD
25 February 20241 ERN = 1.281 NAD
26 February 20241 ERN = 1.274 NAD
27 February 20241 ERN = 1.283 NAD
28 February 20241 ERN = 1.284 NAD
29 February 20241 ERN = 1.284 NAD

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.

26/01/2016: New N$100 and N$200 Banknotes Introduced

Namibia introduced new banknotes of N$100 and N$200 denominations to address the need for higher-value currency in the growing economy.

22/01/2015: Dollarization policy imposed

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

30/08/2012: Introduction of N$10 Commemorative Banknote

Namibia introduced a commemorative banknote of N$10 to celebrate the centenary of the country's struggle for independence.

27/10/2008: Financial Crisis Impact

Due to the global financial crisis, the Namibian dollar experienced a depreciation against major currencies, affecting the country's economy.

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.

01/01/2002: Replacement of Old Banknotes

Old banknotes of the Namibian dollar were demonetized, and new banknotes became the only valid currency.

01/06/1999: Introduction of New Banknotes and Coins

New series of banknotes and coins were introduced in Namibia, featuring indigenous wildlife and cultural symbols.

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.

30/08/1993: Dollarization of Namibia

Namibia adopted the Namibian dollar as its sole legal tender, replacing the South African rand as the official currency.

21/03/1990: Independence of Namibia

Namibia gained independence from South Africa, leading to the introduction of the Namibian dollar as the official currency of the newly established country.
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