Historic Eritrean nakfa New Zealand Dollar

Eritrean nakfa new zealand dollar history for January 2024. The highest quote for this month is 0.10934 (23/01/2024) and the lowest 0.10887 (28/01/2024). The difference between high and low is 0.43.

ERN NZD average rate for January 2024 is 0.1073, the change between 01/01/2024 and 31/01/2024 is -3.2 %.

01 January 20241 ERN = 0.1050 NZD
02 January 20241 ERN = 0.1051 NZD
03 January 20241 ERN = 0.1063 NZD
04 January 20241 ERN = 0.1062 NZD
05 January 20241 ERN = 0.1065 NZD
06 January 20241 ERN = 0.1063 NZD
07 January 20241 ERN = 0.1061 NZD
08 January 20241 ERN = 0.1063 NZD
09 January 20241 ERN = 0.1061 NZD
10 January 20241 ERN = 0.1065 NZD
11 January 20241 ERN = 0.1065 NZD
12 January 20241 ERN = 0.1064 NZD
14 January 20241 ERN = 0.1064 NZD
15 January 20241 ERN = 0.1065 NZD
16 January 20241 ERN = 0.1072 NZD
17 January 20241 ERN = 0.1082 NZD
18 January 20241 ERN = 0.1085 NZD
19 January 20241 ERN = 0.1086 NZD
22 January 20241 ERN = 0.1085 NZD
23 January 20241 ERN = 0.1094 NZD
24 January 20241 ERN = 0.1087 NZD
25 January 20241 ERN = 0.1086 NZD
26 January 20241 ERN = 0.1086 NZD
28 January 20241 ERN = 0.1089 NZD
29 January 20241 ERN = 0.1091 NZD
30 January 20241 ERN = 0.1082 NZD
31 January 20241 ERN = 0.1084 NZD

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.

20/03/2020: COVID-19 Pandemic Effects

The outbreak of the COVID-19 pandemic causes global economic turmoil, leading to volatility in the New Zealand dollar exchange rate and GDP contraction.

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.

10/10/2008: Global Financial Crisis Hits New Zealand

New Zealand experiences the impact of the global financial crisis, leading to a sharp depreciation of the New Zealand dollar and economic slowdown.

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.

10/07/2005: Polymer Banknotes Introduced

New Zealand introduces polymer banknotes, replacing the traditional paper notes for increased durability and security.

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.

05/10/1987: Black Monday Stock Market Crash

Global stock market crash leads to a significant devaluation of the New Zealand dollar and a deep recession in the country.

04/03/1985: Floating Exchange Rate Introduced

New Zealand dollar is allowed to float freely against other currencies, marking the end of fixed exchange rates.

10/07/1961: Decimalization of Currency

New Zealand adopts the decimal currency system, replacing the pound with the New Zealand dollar. NZ$1 is equivalent to NZ£2.

19/10/1933: New Zealand Pound Pegged to the British Pound

New Zealand pound is pegged to the British pound at a rate of £1 to NZ£0.624275.
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