Historic Saudi riyal Eritrean nakfa

Saudi riyal eritrean nakfa history for February 2024. The highest quote for this month is 4.0231 (02/02/2024) and the lowest 4.0234 (19/02/2024). The difference between high and low is -0.01.

SAR ERN average rate for February 2024 is 4.02018, the change between 01/02/2024 and 29/02/2024 is +0.15 %.

01 February 20241 SAR = 4.024 ERN
02 February 20241 SAR = 4.018 ERN
03 February 20241 SAR = 4.016 ERN
04 February 20241 SAR = 4.016 ERN
05 February 20241 SAR = 4.019 ERN
06 February 20241 SAR = 4.018 ERN
07 February 20241 SAR = 4.023 ERN
08 February 20241 SAR = 4.018 ERN
09 February 20241 SAR = 4.023 ERN
12 February 20241 SAR = 4.018 ERN
13 February 20241 SAR = 4.023 ERN
14 February 20241 SAR = 4.023 ERN
15 February 20241 SAR = 4.018 ERN
16 February 20241 SAR = 4.024 ERN
18 February 20241 SAR = 4.021 ERN
19 February 20241 SAR = 4.023 ERN
20 February 20241 SAR = 4.018 ERN
21 February 20241 SAR = 4.023 ERN
22 February 20241 SAR = 4.018 ERN
23 February 20241 SAR = 4.023 ERN
24 February 20241 SAR = 4.020 ERN
25 February 20241 SAR = 4.020 ERN
26 February 20241 SAR = 4.018 ERN
27 February 20241 SAR = 4.023 ERN
28 February 20241 SAR = 4.018 ERN
29 February 20241 SAR = 4.017 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.

20/05/2018: SAMA grants licenses for full-fledged digital banks

SAMA issued licenses to two banks for providing digital banking services, reflecting a shift towards digitalization in the financial sector.

21/12/2016: Saudi Arabia introduces the SAR 200 note

A new 200 riyal banknote was introduced, featuring a portrait of King Abdullah bin Abdulaziz Al Saud.

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.

20/12/2003: Launch of Riyal Interbank Express (SARIE)

SAMA launched SARIE, a real-time gross settlement system, improving interbank transactions and money transfers.

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.

27/05/1997: Introduction of Saudi Arabian Monetary Agency new design series

SAMA introduced a new series of banknotes with enhanced security features to combat counterfeiting.

30/06/1986: Saudi riyal pegged to the US dollar at 3.75 SAR per USD

Saudi Arabia pegged its currency to the USD, ensuring stability and ease of trade with international partners.

01/03/1952: Introduction of Saudi Arabian Monetary Agency (SAMA)

SAMA was established as the central bank of Saudi Arabia, responsible for issuing and managing the Saudi riyal.

23/09/1932: Establishment of the Kingdom of Saudi Arabia

The Saudi riyal currency was introduced following the unification of the Kingdom under King Abdulaziz Al Saud.
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