Historic Gibraltar pound Eritrean nakfa

Gibraltar pound eritrean nakfa history for February 2024. The highest quote for this month is 19.112 (27/02/2024) and the lowest 19.194 (02/02/2024). The difference between high and low is -0.43.

GIP ERN average rate for February 2024 is 19.01252, the change between 01/02/2024 and 29/02/2024 is +0.07 %.

01 February 20241 GIP = 19.08 ERN
02 February 20241 GIP = 19.02 ERN
05 February 20241 GIP = 18.94 ERN
06 February 20241 GIP = 18.92 ERN
07 February 20241 GIP = 19.03 ERN
08 February 20241 GIP = 18.95 ERN
09 February 20241 GIP = 19.02 ERN
12 February 20241 GIP = 18.99 ERN
13 February 20241 GIP = 19.00 ERN
14 February 20241 GIP = 18.92 ERN
15 February 20241 GIP = 18.92 ERN
16 February 20241 GIP = 18.99 ERN
19 February 20241 GIP = 18.99 ERN
20 February 20241 GIP = 19.03 ERN
21 February 20241 GIP = 19.05 ERN
22 February 20241 GIP = 19.00 ERN
23 February 20241 GIP = 19.10 ERN
26 February 20241 GIP = 19.09 ERN
27 February 20241 GIP = 19.11 ERN
28 February 20241 GIP = 19.03 ERN
29 February 20241 GIP = 19.07 ERN

01/10/2022: Transition to digital currency

Gibraltar announced the introduction of a digital currency pegged 1:1 to the Gibraltar pound, making it one of the first jurisdictions to do so.

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.

15/08/2019: Commencement of polymer £50 issuance

Polymer £50 banknotes were introduced, replacing the older paper £50 notes.

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.

26/06/2018: New £100 banknote issued

A new £100 banknote featuring the image of Sir Joshua Hassan, first Chief Minister of Gibraltar, was issued.

22/01/2015: Dollarization policy imposed

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

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.

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.

06/11/1988: Introduction of polymer banknotes

Polymer banknotes were introduced in Gibraltar, enhancing durability and counterfeit resilience.

15/02/1971: Currency tied to British pound

The Gibraltar pound became pegged to the British pound at a rate of 1:1, ensuring stability and ease of trade.

23/06/1969: Currency switch to decimalization

Gibraltar switched from the pound shilling pence system to a decimalized currency, with 100 pence equal to 1 pound.

07/03/1927: Introduction of Gibraltar pound

The Gibraltar pound was first introduced as the official currency of Gibraltar, replacing the Spanish peseta.
GIP ERN January 2024
GIP ERN February 2024
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GIP ERN January 2025