Historic Euro Eritrean nakfa

Euro eritrean nakfa history for February 2024. The highest quote for this month is 16.326 (27/02/2024) and the lowest 16.401 (02/02/2024). The difference between high and low is -0.46.

EUR ERN average rate for February 2024 is 16.25783, the change between 01/02/2024 and 29/02/2024 is -0.18 %.

01 February 20241 EUR = 16.28 ERN
02 February 20241 EUR = 16.37 ERN
05 February 20241 EUR = 16.25 ERN
06 February 20241 EUR = 16.17 ERN
07 February 20241 EUR = 16.21 ERN
08 February 20241 EUR = 16.22 ERN
09 February 20241 EUR = 16.24 ERN
12 February 20241 EUR = 16.25 ERN
13 February 20241 EUR = 16.23 ERN
14 February 20241 EUR = 16.14 ERN
15 February 20241 EUR = 16.15 ERN
16 February 20241 EUR = 16.24 ERN
18 February 20241 EUR = 16.25 ERN
19 February 20241 EUR = 16.25 ERN
20 February 20241 EUR = 16.22 ERN
21 February 20241 EUR = 16.30 ERN
22 February 20241 EUR = 16.29 ERN
23 February 20241 EUR = 16.31 ERN
25 February 20241 EUR = 16.31 ERN
26 February 20241 EUR = 16.28 ERN
27 February 20241 EUR = 16.35 ERN
28 February 20241 EUR = 16.32 ERN
29 February 20241 EUR = 16.31 ERN

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.

13/07/2015: Greek debt bailout agreement

A third bailout deal was reached between Greece and its creditors, avoiding a potential Greek exit from the Eurozone.

22/01/2015: Dollarization policy imposed

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

02/05/2010: Greek debt crisis

Greece's financial crisis threatened the stability of the Eurozone, requiring massive bailout packages to prevent a default.

15/10/2008: Global financial crisis

The Euro faced significant economic challenges following the collapse of Lehman Brothers, leading to a recession in many Eurozone countries.

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.

01/05/2004: Eurozone expansion

10 more countries joined the Eurozone, bringing the total number of participating countries to 24.

01/01/2002: Euro banknotes and coins

Physical banknotes and coins in Euro were introduced, replacing national currencies in 12 European countries.

01/01/1999: Introduction of the Euro

The Euro was officially introduced as an electronic currency for banking and financial transactions.

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.

07/02/1992: The Maastricht Treaty

The treaty was signed, which officially established the European Union and laid the groundwork for the creation of the Euro.
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