Historic Tongan paʻanga Eritrean nakfa

Tongan paʻanga eritrean nakfa history for January 2024. The highest quote for this month is 6.5476 (01/01/2024) and the lowest 6.5476 (01/01/2024). The difference between high and low is 0.

TOP ERN average rate for January 2024 is 6.45517, the change between 01/01/2024 and 31/01/2024 is +2.19 %.

01 January 20241 TOP = 6.55 ERN
02 January 20241 TOP = 6.55 ERN
03 January 20241 TOP = 6.51 ERN
04 January 20241 TOP = 6.51 ERN
05 January 20241 TOP = 6.50 ERN
06 January 20241 TOP = 6.50 ERN
07 January 20241 TOP = 6.48 ERN
08 January 20241 TOP = 6.48 ERN
09 January 20241 TOP = 6.44 ERN
10 January 20241 TOP = 6.40 ERN
11 January 20241 TOP = 6.39 ERN
12 January 20241 TOP = 6.48 ERN
14 January 20241 TOP = 6.48 ERN
15 January 20241 TOP = 6.46 ERN
16 January 20241 TOP = 6.49 ERN
17 January 20241 TOP = 6.45 ERN
18 January 20241 TOP = 6.42 ERN
19 January 20241 TOP = 6.39 ERN
22 January 20241 TOP = 6.45 ERN
23 January 20241 TOP = 6.44 ERN
24 January 20241 TOP = 6.44 ERN
25 January 20241 TOP = 6.44 ERN
26 January 20241 TOP = 6.42 ERN
28 January 20241 TOP = 6.42 ERN
29 January 20241 TOP = 6.41 ERN
30 January 20241 TOP = 6.39 ERN
31 January 20241 TOP = 6.40 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.

01/04/2020: 50th Anniversary of the Paʻanga

Tonga celebrated the 50th anniversary of the introduction of the paʻanga as its national currency.

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.

29/07/2014: Second Devaluation of the Paʻanga

Another devaluation occurred, this time by 20%, as part of Tonga's economic reform program.

14/03/2008: Currency Redenomination

Tonga redenominated its currency, removing three zeros from the paʻanga to simplify monetary transactions.

16/11/2006: Riot and Currency Crisis

Civil unrest and riots erupted in Tonga, leading to a currency crisis and a temporary suspension of trading the paʻanga.

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.

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.

01/04/1991: First Devaluation of the Paʻanga

The paʻanga was devalued by 25% in an attempt to boost Tonga's economy and improve trade competitiveness.

04/06/1975: Independence of Tonga

Tonga gained full independence from the United Kingdom, further solidifying the status of the paʻanga as its national currency.

01/04/1967: Introduction of the Paʻanga

The Tongan paʻanga was introduced as the official currency, replacing the pound at a rate of 1 pound = 2 paʻanga.
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