Kazakhstani tenge eritrean nakfa exchange rate history (KZT ERN) December 2023

Kazakhstani tenge eritrean nakfa history for December 2023. The highest quote for this month is 0.033388 (28/12/2023) and the lowest 0.033378 (28/12/2023). The difference between high and low is 0.03.

KZT ERN average rate for December 2023 is 0.03295, the change between 01/12/2023 and 31/12/2023 is -0.86 %.

01 December 2023	1 KZT = 0.0329 ERN
02 December 2023	1 KZT = 0.0326 ERN
03 December 2023	1 KZT = 0.0326 ERN
04 December 2023	1 KZT = 0.0328 ERN
05 December 2023	1 KZT = 0.0328 ERN
06 December 2023	1 KZT = 0.0328 ERN
07 December 2023	1 KZT = 0.0328 ERN
08 December 2023	1 KZT = 0.0330 ERN
10 December 2023	1 KZT = 0.0328 ERN
11 December 2023	1 KZT = 0.0330 ERN
12 December 2023	1 KZT = 0.0330 ERN
13 December 2023	1 KZT = 0.0332 ERN
14 December 2023	1 KZT = 0.0330 ERN
15 December 2023	1 KZT = 0.0332 ERN
16 December 2023	1 KZT = 0.0329 ERN
17 December 2023	1 KZT = 0.0329 ERN
18 December 2023	1 KZT = 0.0328 ERN
19 December 2023	1 KZT = 0.0330 ERN
20 December 2023	1 KZT = 0.0331 ERN
21 December 2023	1 KZT = 0.0332 ERN
22 December 2023	1 KZT = 0.0329 ERN
23 December 2023	1 KZT = 0.0329 ERN
24 December 2023	1 KZT = 0.0330 ERN
26 December 2023	1 KZT = 0.0330 ERN
27 December 2023	1 KZT = 0.0330 ERN
28 December 2023	1 KZT = 0.0332 ERN
29 December 2023	1 KZT = 0.0332 ERN

13/12/2021: Introduction of New Banknotes and Coins

New banknotes and coins were introduced, featuring updated designs, improved security features, and denominations. This aims to enhance the efficiency of cash transactions.

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.

03/04/2017: Transition to Free Float

After gradually reducing interventions, Kazakhstan fully transitioned to a free float exchange rate for the tenge, allowing the market to determine its value.

20/08/2015: Tenge Devaluation

Kazakhstan devalued the tenge by around 30% due to falling oil prices and economic instability. This move aimed to boost exports and protect the economy.

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.

19/04/2004: Introduction of New Banknotes

New banknotes with enhanced security features and updated designs were introduced to combat counterfeiting and modernize the currency.

04/10/1999: Floating Exchange Rate

Kazakhstan switched to a floating exchange rate regime, allowing the tenge to fluctuate freely based on market supply and demand.

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.

15/02/1994: Denomination of Tenge

The tenge underwent a 10,000-fold denomination, where 1 new tenge was equal to 10,000 old tenge. This was done to simplify currency handling and eliminate excessive zeros.

15/11/1993: Introduction of Kazakhstani Tenge

The Kazakhstani tenge was introduced as the new currency of Kazakhstan, replacing the Soviet ruble. The exchange rate was set at 1 tenge = 500 rubles.

Historic Kazakhstani tenge Eritrean nakfa