Historic Eritrean nakfa Swiss franc

Eritrean nakfa swiss franc history for January 2024. The highest quote for this month is 0.05791 (23/01/2024) and the lowest 0.057641 (19/01/2024). The difference between high and low is 0.46.

ERN CHF average rate for January 2024 is 0.0569, the change between 01/01/2024 and 31/01/2024 is -2.65 %.

01 January 20241 ERN = 0.0558 CHF
02 January 20241 ERN = 0.0559 CHF
03 January 20241 ERN = 0.0565 CHF
04 January 20241 ERN = 0.0563 CHF
05 January 20241 ERN = 0.0564 CHF
08 January 20241 ERN = 0.0565 CHF
09 January 20241 ERN = 0.0563 CHF
10 January 20241 ERN = 0.0566 CHF
11 January 20241 ERN = 0.0564 CHF
12 January 20241 ERN = 0.0565 CHF
14 January 20241 ERN = 0.0565 CHF
15 January 20241 ERN = 0.0566 CHF
16 January 20241 ERN = 0.0568 CHF
17 January 20241 ERN = 0.0572 CHF
18 January 20241 ERN = 0.0574 CHF
19 January 20241 ERN = 0.0577 CHF
22 January 20241 ERN = 0.0576 CHF
23 January 20241 ERN = 0.0577 CHF
24 January 20241 ERN = 0.0577 CHF
25 January 20241 ERN = 0.0573 CHF
26 January 20241 ERN = 0.0575 CHF
28 January 20241 ERN = 0.0573 CHF
29 January 20241 ERN = 0.0574 CHF
30 January 20241 ERN = 0.0572 CHF
31 January 20241 ERN = 0.0573 CHF

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.

15/01/2015: Removal of Minimum Exchange Rate

The Swiss National Bank unexpectedly abandoned the minimum exchange rate, causing the Swiss franc (CHF) to surge in value.

06/09/2011: Implementation of Minimum Exchange Rate

The Swiss National Bank imposed a minimum exchange rate pegging the Swiss franc (CHF) to the Euro to prevent excessive appreciation.

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.

13/09/1999: Introduction of Euro

Switzerland decided not to join the Eurozone and maintain the Swiss franc (CHF) as its official currency.

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.

08/05/1973: Floatation of Swiss Franc

Switzerland abandoned the fixed exchange rate system, allowing the Swiss franc (CHF) to float freely against other currencies.

01/05/1936: Introduction of Swiss National Bank

The Swiss National Bank was established as the central bank responsible for issuing and managing the Swiss franc (CHF).

24/11/1907: Gold Standard Referendum

Switzerland voted to adopt the gold standard, making the Swiss franc (CHF) fully convertible into gold.

06/06/1850: Currency Act of 1850

The Swiss franc (CHF) was introduced as the official currency of Switzerland.
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