Eritrean nakfa


Eritrean nakfa
Eritrean nakfa
1 nakfa banknote
1 nakfa banknote
ISO 4217 code ERN
User(s)  Eritrea
Inflation 18%
Source The World Factbook, 2008 est.
Pegged with U.S. dollar = 15 nakfa
Subunit
1/100 cent
Symbol Nfk
Coins 1, 5, 10, 25, 50 cents, 1 nakfa
Banknotes 1, 5, 10, 20, 50, 100 nakfa
Central bank Bank of Eritrea

The nakfa (ISO 4217 code: ERN) is the currency of Eritrea. It is divided into 100 cents. The currency was introduced in 1997 to replace the Ethiopian birr at par, and it was named after the town of Nakfa.

For an earlier currency of Eritrea, see tallero.

Contents

Coins

Coins are made entirely of Nickel clad Steel. Each coin has a different reeded edge, instead of consistent reeding for all denominations. The 1 nakfa coin carries the denomination "100 cents".

Coin denominations:

  • 1 cent
  • 5 cents
  • 10 cents
  • 25 cents
  • 50 cents
  • 100 cents (1 nakfa)

Banknotes

The back of the five Nakfa bank note with the actual tree shown above it.

Banknotes come in denominations of:

  • 1 nakfa
  • 5 nakfa
  • 10 nakfa
  • 20 nakfa
  • 50 nakfa
  • 100 nakfa

There are two issues of banknotes. The first issue of all denominations is dated 24 May 1997; the second issue consists of only the 50- and 100-nakfa notes and is dated 24 May 2004 (May 24 is Eritrea's Independence Day).[1]

Current ERN exchange rates
From Google Finance: AUD CAD CHF EUR GBP HKD JPY USD
From Yahoo! Finance: AUD CAD CHF EUR GBP HKD JPY USD
From OzForex: AUD CAD CHF EUR GBP HKD JPY USD
From XE.com: AUD CAD CHF EUR GBP HKD JPY USD
From OANDA.com: AUD CAD CHF EUR GBP HKD JPY USD

The nakfa has been pegged with the United States dollar at 1 dollar = 15 nakfa since January 1, 2005.

See also

References

External links

Preceded by:
Ethiopian birr
Reason: currency independence
Ratio: at par
Currency of Eritrea
1997
Succeeded by:
Current

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