Knowledge

Eritrean nakfa

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There have been five series of banknotes since the currency's launch. The first issue for all denominations was dated 24.5.1997; the second issue consists of only the 50 and 100 nakfa notes and is dated 24.5.2004; the third issues also consists of only the 50 and 100 nakfa notes and was dated
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The plan to replace the country's currency was top secret and designed to prevent human traffickers bringing their funds back in time to exchange for the new banknotes. On 1 January 2016 the old nakfa banknotes ceased being recognized as legal tender, rendering external stockpiles of currency
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at a fixed rate of US$ 1 = ERN 15. At earlier times, it was officially pegged at US$ 1 = ERN 13.50. The currency is not fully convertible, so black market rates available on the streets typically offered a rate of 15 nakfas per dollar.
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exchange rate of the currency is around 100 ERN for US$ 1. The currency does not have a good demand outside of Eritrea. The black markets that exist in Asmara and a few other towns show the diminishing values of ERN.
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Eritrea's government has resisted calls to float the nation's currency, preferring the stability of a fixed exchange rate. However periodic devaluations have been made. ERN is a very weak currency. The
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for all denominations. The 1 nakfa coin carries the denomination "100 cents". The common reverse shows fighters raising the
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human traffickers who had accepted payments in nakfa banknotes in exchange for transporting would-be migrants primarily to
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The current series of banknotes is the artwork of an Afro-American banknote designer, Clarence Holbert, and printed by
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24.5.2011, and the fourth issues consisted of only the 10 and 20 nakfa notes and was dated 24.5.2012. (May 24 is
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began replacement of all nakfa banknotes. The banknote replacement initiative was designed to combat
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Triple portrait of Eritrea's nine nationalities: Young boy, young man, and older man; flag raising
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Three agricultural scenes: farmer plowing with a camel, women harvesting, woman on tractor
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Triple portrait of three young women of Eritrea's nine nationalities; flag raising
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Triple portrait of three young women of Eritrea's nine nationalities; flag raising
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Triple portrait of three children of Eritrea's nine nationalities; flag raising
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Triple portrait of three women of Eritrea's nine nationalities; flag raising
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Triple portrait of three women of Eritrea's nine nationalities; flag raising
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Eritrea won't shorten national service despite migration fears
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at par. The currency takes its name from the Eritrean town of
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The nakfa banknotes were designed by Clarence Holbert of the
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Banknotes of the Eritrean nakfa (1997–present series)
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and was introduced on 15 November 1997 to replace the
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The back of the five Nakfa bank note with the actual
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San Francisco, CA: www.BanknoteNews.com. 1313: 874:Blue and black on pale yellow underprint 1415: 589: 19:For an earlier currency of Eritrea, see 1110:Inflation rate, average consumer prices 2175: 549:Eritrea's nine principal ethnic groups 2011: 1389: 1375: 1365: 1342: 1193:Meet the New Eritrea Nakfa Bank Notes 831:Brown-red on pale yellow underprint 1708:French Southern and Antarctic Lands 1314:Linzmayer, Owen (2012). "Eritrea". 322: 52: 13: 14: 2214: 1328: 415:Nakfa coins are made entirely of 2160: 2148: 2136: 2124: 2038: 1239:Currency and exchange facilities 899: 861: 818: 781: 744: 738: 701: 695: 660: 654: 353:. The nakfa is divided into 100 222: 71: 1307: 200:1, 5, 10, 25, 50 cents, 1 nakfa 1289: 1271: 1253: 1101: 1: 2203:Currencies introduced in 1997 2183:Currencies with ISO 4217 code 1094: 860: 817: 780: 737: 694: 653: 538: 351:Eritrean War of Independence 7: 1913:São Tomé and Príncipe dobra 1261:"Nakfa - Eritrean currency" 1082: 360:The nakfa is pegged to the 192:1, 5, 10, 20, 50, 100 nakfa 10: 2219: 907:Current ERN exchange rates 880:Farmers plowing with oxen 607:Eritrea's Independence Day 18: 2091: 2060: 2050: 1842: 1663: 1590: 1516:Central African CFA franc 1498: 1424: 906: 640: 637: 634: 631: 628: 625: 622: 619: 614: 311: 279: 269: 259: 254: 240: 235: 217: 209: 204: 196: 188: 167: 160: 153: 118: 113: 101: 89: 82: 70: 36: 31: 1532:Central African Republic 679:Children in bush school 410: 405:Giesecke & Devrient 347:the first major victory 2193:Circulating currencies 1923:West African CFA franc 601: 1550:Republic of the Congo 1355:currency independence 593: 530:African bush elephant 488:North African ostrich 2188:Currencies of Africa 1918:Sierra Leonean leone 1645:South Sudanese pound 1173:, Sallina News, 2016 600:tree shown above it. 210:Date of introduction 2198:Fixed exchange rate 1850:Cape Verdean escudo 1634:Somaliland shilling 1463:Mauritanian ouguiya 1449:Plazas de soberanía 1297:"50 Cents, Eritrea" 837:Freighter ships at 638:Date of first issue 460:Red-fronted gazelle 93:ERN (numeric: 28: 16:Currency of Eritrea 2044:Economy of Eritrea 1795:South African rand 1789:Saint Helena pound 1755:Mozambican metical 1650:Tanzanian shilling 1242:, Eritrea Be, 2015 1219:, Tesfa News, 2015 1196:, Tesfa News, 2015 1150:on 22 October 2016 1089:Economy of Eritrea 602: 26: 2112: 2111: 2005: 2004: 1623:Seychellois rupee 1559:Equatorial Guinea 1384: 1383: 1363: 1356: 1317:The Banknote Book 1279:"1 Cent, Eritrea" 1071: 1070: 897: 896: 871:147 x 72 mm 828:143 x 71 mm 791:140 x 70 mm 763:Eritrean railway 754:140 x 70 mm 721:Sycamore fig tree 711:140 x 70 mm 670:140 x 70 mm 536: 535: 403:currency printer 292: 291: 2210: 2165: 2164: 2163: 2153: 2152: 2151: 2141: 2140: 2139: 2129: 2128: 2127: 2120: 2078:History of trade 2042: 2032: 2025: 2018: 2009: 2008: 1996: 1987: 1978: 1969: 1960: 1951: 1942: 1933: 1882: 1869: 1823: 1814: 1805: 1782: 1775: 1729: 1720: 1711: 1695: 1686: 1655:Ugandan shilling 1603:Djiboutian franc 1571: 1562: 1553: 1544: 1535: 1526: 1452: 1410: 1403: 1396: 1387: 1386: 1358: 1351: 1340: 1339: 1322: 1321: 1311: 1305: 1304: 1293: 1287: 1286: 1275: 1269: 1268: 1257: 1251: 1250: 1249: 1247: 1234: 1228: 1227: 1226: 1224: 1211: 1205: 1204: 1203: 1201: 1188: 1182: 1181: 1180: 1178: 1165: 1159: 1158: 1157: 1155: 1149: 1142: 1132: 1126: 1125: 1124: 1122: 1105: 904: 903: 865: 822: 785: 748: 742: 705: 699: 664: 658: 612: 611: 438: 437: 378:informal economy 324: 313: 272: 245: 228: 226: 225: 213:15 November 1997 179: 178: 177: 173: 144: 135: 126: 109: 96: 75: 63: 55: 54: 47: 39: 38: 29: 25: 2218: 2217: 2213: 2212: 2211: 2209: 2208: 2207: 2173: 2172: 2171: 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249:Bank of Eritrea 241: 223: 221: 175: 171: 170: 168: 142: 141: 133: 132: 124: 107: 94: 78: 77:Nakfa banknotes 66: 57: 41: 24: 17: 12: 11: 5: 2216: 2206: 2205: 2200: 2195: 2190: 2185: 2170: 2169: 2157: 2145: 2133: 2110: 2109: 2107: 2106: 2101: 2095: 2093: 2089: 2088: 2086: 2085: 2083:Transportation 2080: 2075: 2073:Communications 2070: 2064: 2062: 2061:Communications 2058: 2057: 2054:Eritrean nakfa 2051: 2048: 2047: 2035: 2034: 2027: 2020: 2012: 2003: 2002: 2000: 1999: 1998: 1997: 1988: 1979: 1970: 1961: 1952: 1943: 1934: 1920: 1915: 1910: 1908:Nigerian naira 1905: 1900: 1895: 1890: 1888:Gambian dalasi 1885: 1884: 1883: 1870: 1862:Canary Islands 1852: 1846: 1844: 1840: 1839: 1837: 1836: 1834:Zambian kwacha 1831: 1826: 1825: 1824: 1815: 1806: 1792: 1785: 1784: 1783: 1776: 1765:Zimbabwean ZiG 1762: 1757: 1752: 1747: 1742: 1737: 1732: 1731: 1730: 1721: 1712: 1698: 1697: 1696: 1687: 1673: 1667: 1665: 1661: 1660: 1658: 1657: 1652: 1647: 1642: 1630: 1625: 1620: 1615: 1613:Ethiopian birr 1610: 1608:Eritrean nakfa 1605: 1600: 1598:Comorian franc 1594: 1592: 1588: 1587: 1585: 1584: 1579: 1574: 1573: 1572: 1563: 1554: 1545: 1536: 1527: 1513: 1508: 1506:Angolan kwanza 1502: 1500: 1496: 1495: 1493: 1492: 1490:Tunisian dinar 1487: 1485:Sudanese pound 1482: 1474:Sahrawi peseta 1470: 1465: 1460: 1455: 1454: 1453: 1439: 1437:Egyptian pound 1434: 1432:Algerian dinar 1428: 1426: 1422: 1421: 1413: 1412: 1405: 1398: 1390: 1382: 1381: 1374: 1364: 1347:Ethiopian birr 1338: 1337: 1330: 1329:External links 1327: 1324: 1323: 1306: 1301:en.numista.com 1288: 1283:en.numista.com 1270: 1265:www.eritrea.be 1252: 1229: 1206: 1183: 1160: 1137:A Broke Nation 1127: 1099: 1098: 1096: 1093: 1092: 1091: 1084: 1081: 1069: 1068: 1036: 1032: 1031: 999: 991: 990: 958: 955:Yahoo! Finance 950: 949: 917: 914:Google Finance 909: 908: 901: 898: 895: 894: 891: 888: 881: 878: 875: 872: 869: 866: 858: 857: 854: 851: 842: 835: 832: 829: 826: 823: 815: 814: 811: 808: 801: 798: 795: 792: 789: 786: 778: 777: 774: 771: 764: 761: 758: 755: 752: 749: 735: 734: 731: 728: 723: 718: 715: 712: 709: 706: 692: 691: 688: 685: 680: 677: 674: 671: 668: 665: 651: 650: 647: 643: 642: 639: 636: 633: 630: 627: 624: 621: 617: 616: 540: 537: 534: 533: 527: 524: 519: 518: 513: 510: 505: 504: 499: 496: 491: 490: 485: 482: 477: 476: 471: 468: 463: 462: 457: 454: 449: 448: 445: 442: 412: 409: 380:but primarily 374:counterfeiting 339:Ethiopian birr 290: 289: 283: 277: 276: 273: 267: 266: 263: 257: 256: 252: 251: 246: 238: 237: 233: 232: 219: 215: 214: 211: 207: 206: 202: 201: 198: 194: 193: 190: 186: 185: 180: 165: 164: 162: 158: 157: 151: 150: 122: 116: 115: 111: 110: 105: 99: 98: 91: 87: 86: 80: 79: 76: 68: 67: 65: 64: 49: 32: 27:Eritrean nakfa 15: 9: 6: 4: 3: 2: 2215: 2204: 2201: 2199: 2196: 2194: 2191: 2189: 2186: 2184: 2181: 2180: 2178: 2168: 2158: 2156: 2146: 2144: 2134: 2132: 2122: 2121: 2118: 2105: 2102: 2100: 2097: 2096: 2094: 2090: 2084: 2081: 2079: 2076: 2074: 2071: 2069: 2066: 2065: 2063: 2059: 2055: 2049: 2045: 2041: 2033: 2028: 2026: 2021: 2019: 2014: 2013: 2010: 1995: 1994: 1989: 1986: 1985: 1980: 1977: 1976: 1971: 1968: 1967: 1962: 1959: 1958: 1953: 1950: 1949: 1948:Guinea-Bissau 1944: 1941: 1940: 1935: 1932: 1931: 1926: 1925: 1924: 1921: 1919: 1916: 1914: 1911: 1909: 1906: 1904: 1901: 1899: 1898:Guinean franc 1896: 1894: 1893:Ghanaian cedi 1891: 1889: 1886: 1881: 1880: 1876: 1871: 1868: 1867: 1863: 1858: 1857: 1856: 1853: 1851: 1848: 1847: 1845: 1841: 1835: 1832: 1830: 1827: 1822: 1821: 1816: 1813: 1812: 1807: 1804: 1803: 1798: 1797: 1796: 1793: 1791: 1790: 1786: 1781: 1780:mosi-oa-Tunya 1777: 1774: 1773: 1768: 1767: 1766: 1763: 1761: 1758: 1756: 1753: 1751: 1748: 1746: 1743: 1741: 1738: 1736: 1733: 1728: 1727: 1722: 1719: 1718: 1713: 1710: 1709: 1704: 1703: 1702: 1699: 1694: 1693: 1688: 1685: 1684: 1679: 1678: 1677: 1674: 1672: 1671:Botswana pula 1669: 1668: 1666: 1662: 1656: 1653: 1651: 1648: 1646: 1643: 1640: 1636: 1635: 1631: 1629: 1626: 1624: 1621: 1619: 1616: 1614: 1611: 1609: 1606: 1604: 1601: 1599: 1596: 1595: 1593: 1589: 1583: 1582:Rwandan franc 1580: 1578: 1575: 1570: 1569: 1564: 1561: 1560: 1555: 1552: 1551: 1546: 1543: 1542: 1537: 1534: 1533: 1528: 1525: 1524: 1519: 1518: 1517: 1514: 1512: 1509: 1507: 1504: 1503: 1501: 1497: 1491: 1488: 1486: 1483: 1480: 1476: 1475: 1471: 1469: 1466: 1464: 1461: 1459: 1456: 1451: 1450: 1445: 1444: 1443: 1440: 1438: 1435: 1433: 1430: 1429: 1427: 1423: 1418: 1411: 1406: 1404: 1399: 1397: 1392: 1391: 1388: 1380: 1376:Succeeded by: 1373:1997 – 1371: 1370: 1361: 1354: 1349: 1348: 1341: 1336: 1333: 1332: 1319: 1318: 1310: 1302: 1298: 1292: 1284: 1280: 1274: 1266: 1262: 1256: 1241: 1240: 1233: 1218: 1217: 1210: 1195: 1194: 1187: 1172: 1171: 1164: 1146: 1139: 1138: 1131: 1116: 1112: 1111: 1104: 1100: 1090: 1087: 1086: 1080: 1077: 1067: 1064: 1061: 1058: 1055: 1052: 1049: 1046: 1043: 1040: 1037: 1034: 1033: 1030: 1027: 1024: 1021: 1018: 1015: 1012: 1009: 1006: 1003: 1000: 997: 993: 992: 989: 986: 983: 980: 977: 974: 971: 968: 965: 962: 959: 956: 952: 951: 948: 945: 942: 939: 936: 933: 930: 927: 924: 921: 918: 915: 911: 910: 905: 900:Exchange rate 892: 890:May 24, 1997 889: 882: 879: 876: 873: 870: 867: 864: 859: 855: 853:May 24, 1997 852: 843: 840: 836: 833: 830: 827: 824: 821: 816: 812: 810:May 24, 1997 809: 802: 799: 796: 793: 790: 787: 784: 779: 775: 773:May 24, 1997 772: 765: 762: 759: 756: 753: 750: 747: 741: 736: 732: 730:May 24, 1997 729: 724: 722: 719: 716: 713: 710: 707: 704: 698: 693: 689: 687:May 24, 1997 686: 681: 678: 675: 672: 669: 666: 663: 657: 652: 648: 645: 644: 635:Date of issue 618: 613: 610: 608: 599: 598: 592: 588: 586: 582: 578: 574: 570: 566: 562: 558: 554: 550: 546: 531: 528: 525: 523: 521: 520: 517: 514: 511: 509: 507: 506: 503: 502:Grévy's zebra 500: 497: 495: 493: 492: 489: 486: 483: 481: 479: 478: 475: 472: 469: 467: 465: 464: 461: 458: 455: 453: 451: 450: 446: 443: 440: 439: 436: 434: 433:Eritrean flag 430: 426: 422: 418: 408: 406: 402: 397: 393: 391: 387: 383: 379: 375: 371: 366: 363: 358: 356: 352: 348: 344: 340: 336: 332: 328: 320: 316: 309: 305: 301: 297: 287: 284: 282: 278: 274: 271: Source 268: 264: 262: 258: 253: 250: 247: 244: 239: 234: 231: 220: 216: 212: 208: 203: 199: 195: 191: 187: 184: 181: 166: 163: 159: 156: 155:Denominations 152: 148: 147:Arabic script 139: 130: 123: 121: 117: 112: 106: 104: 100: 92: 88: 85: 81: 74: 69: 61: 50: 45: 34: 33: 30: 22: 2053: 1991: 1982: 1973: 1964: 1955: 1946: 1939:Burkina Faso 1937: 1928: 1873: 1860: 1818: 1809: 1800: 1787: 1770: 1735:Lesotho loti 1724: 1715: 1706: 1690: 1681: 1639:unrecognized 1638: 1632: 1607: 1566: 1557: 1548: 1539: 1530: 1521: 1479:unrecognized 1478: 1472: 1458:Libyan dinar 1447: 1378: 1367:Currency of 1366: 1359: 1352: 1345: 1343:Preceded by: 1316: 1309: 1300: 1291: 1282: 1273: 1264: 1255: 1244:, retrieved 1238: 1232: 1221:, retrieved 1215: 1209: 1198:, retrieved 1192: 1186: 1175:, retrieved 1169: 1163: 1152:, retrieved 1145:the original 1136: 1130: 1119:, retrieved 1117:, April 2017 1109: 1103: 1075: 1072: 1035:From OANDA: 603: 595: 542: 516:Greater kudu 414: 398: 394: 367: 359: 326: 314: 303: 295: 293: 243:Central bank 205:Demographics 138:Ge'ez script 129:Latin script 2167:Numismatics 2099:Agriculture 1957:Ivory Coast 893:Camel head 856:Camel head 813:Camel head 776:Camel head 733:Camel head 690:Camel head 632:Description 396:worthless. 286:U.S. dollar 281:Pegged with 2177:Categories 2092:Industries 2052:Currency: 1417:Currencies 1246:22 October 1223:22 October 1200:22 October 1177:22 October 1154:22 October 1095:References 868:100 nakfa 641:Watermark 629:Main Color 626:Dimensions 526:100 cents 345:, site of 288:= 15 nakfa 275:April 2017 1419:of Africa 1121:9 October 825:50 nakfa 788:20 nakfa 751:10 nakfa 539:Banknotes 532:and calf 512:50 cents 498:25 cents 484:10 cents 362:US dollar 329:) is the 261:Inflation 255:Valuation 189:Banknotes 127:‎ ( 1879:Portugal 1802:Eswatini 1772:Zimbabwe 1692:Zimbabwe 1676:Sterling 1523:Cameroon 1083:See also 1076:de facto 708:5 nakfa 667:1 nakfa 649:Reverse 561:Rashaida 553:Tigrinya 470:5 cents 382:Sudanese 331:currency 325:or نقفة 308:Tigrinya 300:ISO 4217 236:Issuance 84:ISO 4217 44:Tigrinya 2143:Eritrea 2117:Portals 2104:Tourism 2068:Banking 1984:Senegal 1875:Madeira 1820:Namibia 1811:Lesotho 1726:Réunion 1717:Mayotte 1499:Central 1379:Current 1369:Eritrea 1353:Reason: 839:Massawa 646:Obverse 474:Leopard 456:1 cent 429:reeding 423:. Each 390:Eritrea 349:of the 335:Eritrea 230:Eritrea 218:User(s) 174:⁄ 169:  161:Subunit 103:Subunit 21:tallero 2131:Africa 1362:at par 1360:Ratio: 996:XE.com 585:Kunama 419:-clad 417:nickel 401:German 386:Europe 376:, the 319:Arabic 302:code: 227:  120:Symbol 60:Arabic 56:  48: 40:  2155:Money 1975:Niger 1930:Benin 1866:Spain 1664:South 1568:Gabon 1425:North 1148:(PDF) 1141:(PDF) 994:From 953:From 912:From 887:2011 850:2015 841:port 807:2015 770:2015 727:2015 684:2015 623:Value 620:Image 577:Bilen 557:Tigre 444:Value 441:Image 421:steel 411:Coins 355:cents 343:Nakfa 327:nākfā 323:ناكفا 317:, or 315:naḳfa 296:nakfa 197:Coins 143:ناكفا 53:ناكفا 1993:Togo 1966:Mali 1855:Euro 1843:West 1701:Euro 1591:East 1541:Chad 1442:Euro 1248:2016 1225:2016 1202:2016 1179:2016 1156:2016 1123:2017 885:2004 883:1997 848:2011 846:2004 844:1997 805:2012 803:1997 768:2012 766:1997 725:1997 682:1997 581:Beja 573:Saho 569:Afar 565:Nara 425:coin 294:The 183:cent 114:Unit 108:0.01 90:Code 1115:IMF 1066:ETB 1063:USD 1060:JPY 1057:HKD 1054:GBP 1051:EUR 1048:CNY 1045:CHF 1042:CAD 1039:AUD 1029:ETB 1026:USD 1023:JPY 1020:HKD 1017:GBP 1014:EUR 1011:CNY 1008:CHF 1005:CAD 1002:AUD 988:ETB 985:USD 982:JPY 979:HKD 976:GBP 973:EUR 970:CNY 967:CHF 964:CAD 961:AUD 947:ETB 944:USD 941:JPY 938:HKD 935:GBP 932:EUR 929:CNY 926:CHF 923:CAD 920:AUD 333:of 312:ናቕፋ 304:ERN 176:100 134:ናቕፋ 125:Nfk 95:232 37:ናቕፋ 2179:: 1877:, 1864:, 1299:. 1281:. 1263:. 1113:, 998:: 957:: 916:: 583:, 579:, 575:, 571:, 567:, 563:, 559:, 555:, 407:. 392:. 357:. 321:: 310:: 306:; 265:9% 2119:: 2031:e 2024:t 2017:v 1641:) 1637:( 1481:) 1477:( 1409:e 1402:t 1395:v 1303:. 1285:. 1267:. 551:( 298:( 172:1 149:) 145:( 140:) 136:( 131:) 97:) 62:) 58:( 46:) 42:( 23:.

Index

tallero
Tigrinya
Arabic

ISO 4217
Subunit
Symbol
Latin script
Ge'ez script
Arabic script
Denominations
cent
Eritrea
Central bank
Bank of Eritrea
Inflation
Pegged with
U.S. dollar
ISO 4217
Tigrinya
Arabic
currency
Eritrea
Ethiopian birr
Nakfa
the first major victory
Eritrean War of Independence
cents
US dollar
Bank of Eritrea

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