Historic Malaysian ringgit Eritrean nakfa

Malaysian ringgit eritrean nakfa history for January 2024. The highest quote for this month is 3.2814 (01/01/2024) and the lowest 3.2814 (01/01/2024). The difference between high and low is 0.

MYR ERN average rate for January 2024 is 3.22551, the change between 01/01/2024 and 31/01/2024 is +2.94 %.

01 January 20241 MYR = 3.281 ERN
02 January 20241 MYR = 3.281 ERN
03 January 20241 MYR = 3.271 ERN
04 January 20241 MYR = 3.275 ERN
05 January 20241 MYR = 3.253 ERN
06 January 20241 MYR = 3.239 ERN
07 January 20241 MYR = 3.244 ERN
08 January 20241 MYR = 3.235 ERN
09 January 20241 MYR = 3.242 ERN
10 January 20241 MYR = 3.243 ERN
11 January 20241 MYR = 3.247 ERN
12 January 20241 MYR = 3.241 ERN
14 January 20241 MYR = 3.240 ERN
15 January 20241 MYR = 3.245 ERN
16 January 20241 MYR = 3.229 ERN
17 January 20241 MYR = 3.241 ERN
18 January 20241 MYR = 3.196 ERN
19 January 20241 MYR = 3.192 ERN
22 January 20241 MYR = 3.198 ERN
23 January 20241 MYR = 3.186 ERN
24 January 20241 MYR = 3.190 ERN
25 January 20241 MYR = 3.188 ERN
26 January 20241 MYR = 3.187 ERN
28 January 20241 MYR = 3.189 ERN
29 January 20241 MYR = 3.185 ERN
30 January 20241 MYR = 3.185 ERN
31 January 20241 MYR = 3.185 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.

18/03/2020: COVID-19 Pandemic Impact

The COVID-19 pandemic caused a sharp decline in the value of the ringgit, as global markets experienced volatility and economic slowdown.

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.

12/08/2015: Ringgit Depreciation

The Malaysian ringgit experienced a significant depreciation against major currencies due to falling oil prices and global economic uncertainties.

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.

21/07/2005: Removal of Currency Peg

The Malaysian government removed the fixed exchange rate peg to the US dollar, allowing the ringgit to float freely based on market forces.

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.

02/07/1997: Asian Financial Crisis

The Malaysian ringgit was heavily affected by the Asian financial crisis, leading to a currency devaluation and introduction of capital controls.

12/06/1985: Currency Pegged to the US Dollar

The Malaysian ringgit was pegged to the US dollar at a fixed exchange rate of RM2.50 per USD to stabilize the economy.

29/08/1975: Change to Malaysian Ringgit

The Malaysian dollar was renamed as the Malaysian ringgit, with the currency symbol RM, to reflect the country's independence and identity.

12/06/1967: Introduction of the Malaysian Dollar

The Malaysian dollar was introduced as the official currency of Malaysia, replacing the Malaya and British Borneo dollar.
MYR ERN January 2024
MYR ERN February 2024
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MYR ERN January 2025