Historic Polish Zloty Eritrean nakfa

Polish Zloty eritrean nakfa history for February 2024. The highest quote for this month is 3.7909 (24/02/2024) and the lowest 3.8074 (02/02/2024). The difference between high and low is -0.44.

PLN ERN average rate for February 2024 is 3.76225, the change between 01/02/2024 and 29/02/2024 is -0.43 %.

01 February 20241 PLN = 3.763 ERN
02 February 20241 PLN = 3.793 ERN
03 February 20241 PLN = 3.768 ERN
04 February 20241 PLN = 3.768 ERN
05 February 20241 PLN = 3.772 ERN
06 February 20241 PLN = 3.726 ERN
07 February 20241 PLN = 3.731 ERN
08 February 20241 PLN = 3.736 ERN
09 February 20241 PLN = 3.757 ERN
12 February 20241 PLN = 3.760 ERN
13 February 20241 PLN = 3.768 ERN
14 February 20241 PLN = 3.721 ERN
15 February 20241 PLN = 3.723 ERN
16 February 20241 PLN = 3.741 ERN
18 February 20241 PLN = 3.746 ERN
19 February 20241 PLN = 3.748 ERN
20 February 20241 PLN = 3.750 ERN
21 February 20241 PLN = 3.777 ERN
22 February 20241 PLN = 3.774 ERN
23 February 20241 PLN = 3.773 ERN
24 February 20241 PLN = 3.791 ERN
25 February 20241 PLN = 3.788 ERN
26 February 20241 PLN = 3.780 ERN
27 February 20241 PLN = 3.795 ERN
28 February 20241 PLN = 3.791 ERN
29 February 20241 PLN = 3.780 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.

03/03/2020: COVID-19 Pandemic Impact

The COVID-19 pandemic caused significant fluctuations in the value of the Polish Zloty, influenced by global economic uncertainties and shocks to foreign trade.

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.

22/01/2015: Dollarization policy imposed

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

17/11/2014: National Bank of Poland Intervention

The National Bank of Poland intervened in the currency market to weaken the Polish Zloty, aiming to stimulate exports and counter deflationary pressures.

01/04/2011: Poland Joins the ERM II

Poland's participation in the European Exchange Rate Mechanism II aimed to facilitate converging towards the Euro and maintaining stability for the Polish Zloty.

27/10/2008: Global Financial Crisis

The global financial crisis had repercussions on the Polish Zloty, with the currency experiencing devaluation and higher volatility due to market uncertainty.

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.

01/05/2004: Poland's EU Accession

Poland's accession to the European Union had a profound impact on the Polish Zloty, as it became subject to EU regulations and influenced by the Eurozone.

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.

04/06/1989: Fall of Communism in Poland

The end of communist rule in Poland led to significant economic and currency reforms, including a stabilization program that strengthened the Polish Zloty.

01/01/1950: Introduction of the Polish Zloty

The Polish Zloty was introduced as the official currency of Poland, replacing the old Polish currency. It played a crucial role in rebuilding the post-war economy.
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