1 USD = 15 ERN (fix)
1 EUR = 20.55 ERN 100 ERN = 4.8662 EUR
1 CHF = 16.796 ERN 100 ERN = 5.9538 CHF
The Nakfa is the currency of Eritrea. A Nakfa is divided into 100 cents. The Nakfa was introduced on November 8, 1997 and replaced the hitherto valid Ethiopian Birr currency. He is in the ratio 1 USD = 15 ERN to the U.S. dollar bound, however, is not freely convertible. Therefore, there is a black market in Eritrea, brimming with up to twice as many ERN for convertible foreign currencies as at the official exchange.
The currency is named after the city norderitreischen Nakfa, which played a prominent role in the Eritrean War of Independence. Coins are in denominations of 1 ( in fact no longer in circulation ), 5, 10, 25, 50 and 100 cents ( = 1 Nakfa ), banknotes of 1, 5, 10, 20, 50 and 100 Nakfa.
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- Currency Unit ( Africa)
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