Eritrean nakfa
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| Eritrean nakfa | |||
|
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| ISO 4217 Code | ERN | ||
|---|---|---|---|
| User(s) | Eritrea | ||
| Inflation | 14% | ||
| Source | The World Factbook, 2006 est. | ||
| Pegged with | U.S. dollar = 15 nakfa | ||
| Subunit | |||
| 1/100 | cent | ||
| Symbol | Nfk | ||
| Coins | 1, 5, 10, 25, 50, 100 cents | ||
| Banknotes | 1, 5, 10, 20, 50, 100 nakfa | ||
| Central bank | Bank of Eritrea | ||
The nakfa is the currency of Eritrea, divided into 100 cents. Its ISO 4217 code is "ERN". The currency was introduced in 1997 to replace the Ethiopian birr at par.
For an earlier currency of Eritrea, see tallero.
Contents |
[edit] Coins
The coinage is made entirely of stainless steel. Each coin has a different reeded edge, instead of consistent reeding for all denominations. Note that the 1 nakfa coin carries the denomination "100 cents".
Coinage denominations:
- 1 cent
- 5 cents
- 10 cents
- 25 cents
- 50 cents
- 100 cents (1 nakfa)
[edit] Banknotes
Banknotes come in denominations of:
- 1 nakfa
- 5 nakfa
- 10 nakfa
- 20 nakfa
- 50 nakfa
- 100 nakfa
There are two issues of banknotes dated 1997 and 2004 [1].
Current ERN exchange rates
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The nakfa has been pegged with the United States dollar at 1 dollar = 15 nakfa since January 1, 2005.
[edit] References
- ^ Nachthund. Update - Eritrea. Retrieved on July 31, 2006.
- Global Financial Data currency histories table
- Tables of modern monetary history: Eritrea
- World coin gallery
[edit] External links
| Preceded by: Ethiopian birr Reason: currency independence Ratio: at par |
Currency of Eritrea 1997 – |
Succeeded by: Current |
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