About the Eritrean Nakfa
The Nakfa was introduced in 1997 to replace the Ethiopian Birr at par, following Eritrea's independence from Ethiopia.
The currency is named after the town of Nakfa, which was the base for the Eritrean People's Liberation Front during the war of independence and a symbol of resistance.
Interesting Facts
A Symbol of Independence
The currency is named after the town of Nakfa, a key battleground and symbol of the long struggle for Eritrean independence.
Faces of Eritrea
The banknotes feature portraits of people from Eritrea's nine different ethnic groups, representing the unity and diversity of the nation.
Fixed Exchange Rate
The Eritrean government maintains a strict, fixed exchange rate for the Nakfa against the U.S. Dollar.
Historical Timeline
Eritrea gains independence from Ethiopia.
The Nakfa is introduced as the national currency.
Denominations
Banknotes
Coins
Security Features
Quick Facts
- ISO Code
- ERN
- Symbol
- Nfk
- Numeric Code
- 232
- Subunit
- Cent (1/100)
- Introduced
- 1997-11-08
Central Bank
- Name
- Bank of Eritrea
- Headquarters
- Asmara, Eritrea
- Founded
- 1993
- Current Governor
- Kibreab Woldemariam (since 1994)
Economic Data
- Reserve Currency Share
- 0.0%
- Forex Volume Share
- 0.0%
- Inflation Rate
- 7.5%
Exchange Rates
What Affects the ERN Exchange Rate?
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