Eritrean nakfa

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**Eritrean nakfa**
ISO 4217 Code	`ERN`
User(s)	Eritrea
Inflation	15%
Source	The World Factbook, 2005 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.

[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 2006-07-31.

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

Currencies of Africa
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