Robert Mugabe

Eritrean nakfa
1 nakfa banknote
ISO 4217 Code	ERN
User(s)	Eritrea
Inflation	18%
Source	The World Factbook, 2008 est.
Pegged with	U.S. dollar = 16.5 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 1 Coins 2 Banknotes 3 See also 4 References 5 External links

[edit] 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)

[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].

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 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.

[edit] See also

• Economy of Eritrea

[edit] References

[edit] External links

• Regulations concerning the nakfa from Afrol news

Preceded by: Ethiopian birr Reason: currency independence Ratio: at par

Currency of Eritrea 1997 –

Succeeded by: Current

v • d • e Currencies of Africa North Algerian dinar · Euro (Plazas de soberanía) · Egyptian pound · Libyan dinar · Mauritanian ouguiya · Moroccan dirham · Sudanese pound · Tunisian dinar Central Angolan kwanza · Burundian franc · Central African CFA franc (Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea, and Gabon) · Congolese franc · Rwandan franc West Cape Verdean escudo · Euro (Canary Islands, Madeira) · Gambian dalasi · Ghanaian cedi · Guinean franc · Liberian dollar · Nigerian naira · São Tomé and Príncipe dobra · Sierra Leonean leone · West African CFA franc (Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo) East Comorian franc · Djiboutian franc · Eritrean nakfa · Ethiopian birr · Kenyan shilling · Seychellois rupee · Somali shilling · Somaliland shilling (unrecognized) · Tanzanian shilling · Ugandan shilling South Botswana pula (Zimbabwe) · British pound sterling ( Saint Helena, Zimbabwe) · Euro ( French Southern and Antarctic Lands, Mayotte, Réunion, Zimbabwe) · Lesotho loti · Malawian kwacha · Malagasy ariary · Mauritian rupee · Mozambican metical · Namibian dollar · Saint Helena pound · South African rand ( Lesotho, Namibia; Swaziland, Zimbabwe) · Swazi lilangeni · U.S. dollar (Zimbabwe) · Zambian kwacha · Zimbabwean dollar

v • d • e Economy of Eritrea Currency: Eritrean nakfa Communications Banking  · Communications  · History of Trade  · Transportation Industries: Agriculture  · Tourism

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