Historic Icelandic Krona Eritrean nakfa

Icelandic Krona eritrean nakfa history for January 2024. The highest quote for this month is 0.11105 (01/01/2024) and the lowest 0.11149 (24/01/2024). The difference between high and low is -0.4.

ISK ERN average rate for January 2024 is 0.11025, the change between 01/01/2024 and 31/01/2024 is +0.69 %.

01 January 20241 ISK = 0.1111 ERN
02 January 20241 ISK = 0.1111 ERN
03 January 20241 ISK = 0.1095 ERN
04 January 20241 ISK = 0.1095 ERN
05 January 20241 ISK = 0.1099 ERN
08 January 20241 ISK = 0.1095 ERN
09 January 20241 ISK = 0.1097 ERN
10 January 20241 ISK = 0.1097 ERN
11 January 20241 ISK = 0.1106 ERN
12 January 20241 ISK = 0.1104 ERN
15 January 20241 ISK = 0.1105 ERN
16 January 20241 ISK = 0.1108 ERN
17 January 20241 ISK = 0.1099 ERN
18 January 20241 ISK = 0.1100 ERN
19 January 20241 ISK = 0.1098 ERN
22 January 20241 ISK = 0.1105 ERN
23 January 20241 ISK = 0.1105 ERN
24 January 20241 ISK = 0.1106 ERN
25 January 20241 ISK = 0.1111 ERN
26 January 20241 ISK = 0.1106 ERN
29 January 20241 ISK = 0.1102 ERN
30 January 20241 ISK = 0.1102 ERN
31 January 20241 ISK = 0.1103 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.

15/11/2018: New Currency Notes Introduced

Iceland released updated banknotes and coins featuring improved security measures and new designs, modernizing the Krona's physical appearance.

30/10/2018: Currency devaluation

Eritrea devalued the nakfa by 14%, reducing its official exchange rate to 1 USD = 15 ERN.

15/03/2015: Capital Controls Lifted

Iceland lifted its capital controls, implemented after the financial crisis, allowing for more flexible foreign exchange transactions.

22/01/2015: Dollarization policy imposed

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

14/11/2010: IMF Loan Approved

Iceland secured a $2.1 billion loan from the International Monetary Fund, stabilizing the Krona and aiding economic recovery.

06/10/2008: Financial Crisis Begins

The collapse of Icelandic banks and subsequent financial crisis severely devalued the Krona, leading to economic turmoil.

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.

05/03/1981: Stock Exchange Established

The Icelandic Stock Exchange was founded, promoting economic growth and affecting the Krona's value.

10/05/1940: Occupation of Iceland

Following the German occupation of Denmark, Iceland became occupied by British forces, impacting the currency's stability.

01/01/1922: Currency Board Established

The Icelandic Krona was introduced under the Danish Krone pegged to 1 Krone = 100 aurar.
ISK ERN July 2023
ISK ERN August 2023
ISK ERN September 2023
ISK ERN October 2023
ISK ERN November 2023
ISK ERN December 2023
ISK ERN January 2024
ISK ERN February 2024
ISK ERN March 2024
ISK ERN April 2024
ISK ERN May 2024
ISK ERN June 2024
ISK ERN July 2024