| Eritrean nakfa |
 |
| 1 nakfa banknote |
|
| ISO 4217 Code |
ERN |
| User(s) |
 Eritrea |
| 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 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.
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)
Banknotes
The back of the five Nakfa bank note with the actual tree shown above it.
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
The nakfa has been pegged with the United States dollar at 1 dollar = 15 nakfa since January 1, 2005.
See also
References
External links
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