Historic Iraqi dinar Eritrean nakfa

Iraqi dinar eritrean nakfa history for January 2024. The highest quote for this month is 0.011755 (09/01/2024) and the lowest 0.01177 (08/01/2024). The difference between high and low is -0.13.

IQD ERN average rate for January 2024 is 0.0116, the change between 01/01/2024 and 31/01/2024 is +1.94 %.

01 January 20241 IQD = 0.0117 ERN
02 January 20241 IQD = 0.0117 ERN
03 January 20241 IQD = 0.0115 ERN
04 January 20241 IQD = 0.0115 ERN
05 January 20241 IQD = 0.0115 ERN
06 January 20241 IQD = 0.0115 ERN
07 January 20241 IQD = 0.0115 ERN
08 January 20241 IQD = 0.0118 ERN
09 January 20241 IQD = 0.0115 ERN
10 January 20241 IQD = 0.0117 ERN
11 January 20241 IQD = 0.0115 ERN
12 January 20241 IQD = 0.0117 ERN
14 January 20241 IQD = 0.0115 ERN
15 January 20241 IQD = 0.0118 ERN
16 January 20241 IQD = 0.0118 ERN
17 January 20241 IQD = 0.0117 ERN
18 January 20241 IQD = 0.0115 ERN
19 January 20241 IQD = 0.0115 ERN
22 January 20241 IQD = 0.0118 ERN
23 January 20241 IQD = 0.0115 ERN
24 January 20241 IQD = 0.0115 ERN
25 January 20241 IQD = 0.0115 ERN
26 January 20241 IQD = 0.0115 ERN
28 January 20241 IQD = 0.0115 ERN
29 January 20241 IQD = 0.0117 ERN
30 January 20241 IQD = 0.0115 ERN
31 January 20241 IQD = 0.0115 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.

15/10/2018: Government Formation

The formation of a new Iraqi government after parliamentary elections brought hopes of stability and potential economic growth, positively impacting the Iraqi dinar.

22/01/2015: Dollarization policy imposed

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

10/06/2014: ISIS captures Mosul

The capture of Mosul by ISIS led to a further devaluation of the Iraqi dinar and economic instability in the region.

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.

15/10/2004: Introduction of New Iraqi Dinar

A new series of banknotes with enhanced security features was introduced to replace the previous Iraqi dinar notes.

20/03/2003: US-led Invasion of Iraq

The US-led invasion led to the collapse of the Iraqi government, causing instability and a sharp decline in the value of the Iraqi dinar.

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.

02/08/1990: Iraq invades Kuwait

Iraq's invasion of Kuwait resulted in international economic sanctions and further devaluation of the Iraqi dinar.

22/09/1980: Iran-Iraq War Begins

The Iran-Iraq war started, leading to significant economic challenges and inflation which impacted the Iraqi dinar.

03/10/1932: Independence of Iraq

The Iraqi dinar was introduced as the official currency of Iraq following its independence from British occupation.
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