Eritrean nakfa
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| Eritrean nakfa | |||
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| ISO 4217 Code | ERN | ||
|---|---|---|---|
| User(s) |  Eritrea |
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| Inflation | 15.5% | ||
| Source | The World Factbook, 2007 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 (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.
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. 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].
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The nakfa has been pegged with the United States dollar at 1 dollar = 15 nakfa since January 1, 2005.
[edit] See also
[edit] References
- ^ Nachthund. Update - Eritrea. Retrieved on 2006-07-31.
[edit] External links
- Don's World Coin Gallery - Eritrea
- Ron Wise's World Paper Money - Eritrea Mirror site
- Tables of Modern Monetary Systems by Kurt Schuler - Eritrea Mirror site
- The Global History of Currencies - Eritrea
- Global Financial Data currency histories table (
Microsoft Excel format) - About the currency from Eritrea.com
- Regulations concerning the nakfa from Afrol news
| Preceded by: Ethiopian birr Reason: currency independence Ratio: at par |
Currency of Eritrea 1997 – |
Succeeded by: Current |
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