Historic Eritrean nakfa Pakistani rupee

Eritrean nakfa pakistani rupee history for February 2024. The highest quote for this month is 18.584 (04/02/2024) and the lowest 18.583 (03/02/2024). The difference between high and low is 0.01.

ERN PKR average rate for February 2024 is 18.48919, the change between 01/02/2024 and 29/02/2024 is +0.6 %.

01 February 20241 ERN = 18.52 PKR
02 February 20241 ERN = 18.55 PKR
03 February 20241 ERN = 18.58 PKR
04 February 20241 ERN = 18.57 PKR
05 February 20241 ERN = 18.44 PKR
06 February 20241 ERN = 18.33 PKR
07 February 20241 ERN = 18.53 PKR
08 February 20241 ERN = 18.54 PKR
09 February 20241 ERN = 18.52 PKR
12 February 20241 ERN = 18.27 PKR
13 February 20241 ERN = 18.51 PKR
14 February 20241 ERN = 18.51 PKR
15 February 20241 ERN = 18.54 PKR
16 February 20241 ERN = 18.52 PKR
17 February 20241 ERN = 18.53 PKR
18 February 20241 ERN = 18.53 PKR
19 February 20241 ERN = 18.43 PKR
20 February 20241 ERN = 18.29 PKR
21 February 20241 ERN = 18.54 PKR
22 February 20241 ERN = 18.54 PKR
23 February 20241 ERN = 18.53 PKR
24 February 20241 ERN = 18.53 PKR
25 February 20241 ERN = 18.53 PKR
26 February 20241 ERN = 18.45 PKR
27 February 20241 ERN = 18.43 PKR
28 February 20241 ERN = 18.55 PKR
29 February 20241 ERN = 18.41 PKR

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.

16/07/2019: IMF Bailout Package

Pakistan reached an agreement with the IMF for a three-year, $6 billion bailout package to address its balance of payments crisis, affecting the value of the Pakistani rupee.

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.

11/12/2013: IMF Loan Program

Pakistan signed a loan agreement with the International Monetary Fund (IMF) to stabilize its economy, resulting in devaluation of the Pakistani rupee.

01/12/2008: Global Financial Crisis

The global financial crisis led to a depreciation of the Pakistani rupee against major international currencies due to economic instability.

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.

28/05/1999: Introduction of State Bank of Pakistan

The State Bank of Pakistan was given full autonomous control over the monetary policy, which had a significant impact on the value of the Pakistani rupee.

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.

16/12/1971: Separation of East Pakistan

Following the separation of East Pakistan and the formation of Bangladesh, the Pakistani rupee underwent a major devaluation.

01/07/1955: Replacement of Indian Rupee

The Pakistani rupee replaced the Indian rupee as the official currency of Pakistan after the two countries separated.

17/08/1947: Independence of Pakistan

The Pakistani rupee was introduced as the official currency of Pakistan after the country gained independence from British rule.
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