Eritrean nakfa currency | Eritrea Bank Notes

Eritrean Nakfa

Eritrean nakfa currency:

The nakfa is the official currency of Eritrea. On 8 November 1997 it was introduced to replace the Ethiopian birr at par and the name nakfa takes from the town of Nacfa. It is subdivided into 100 cents. The nakfa is pegged to the US dollar at a fixed rate of USD$1 = ERN15.

Coins were introduced in the denominations of 1, 5, 10, 25, 50 cents, 1 nakfa and   each coin has a different reeded edge, instead of consistent reeding for all denominations. All coins were struck entirely of Nickel clad Steel. Currently the coins in circulation are 1, 5, 10, 25, 50 cents, 1 nakfa. In 1994, the bank notes were designed by Clarence Holbert of the United States Bureau of Engraving and Printing. Since the launch of currency, five series of banknotes are there, first series of bank notes were issued in the denominations of 1,5,10,20,50,100 and were dated on 24 May 1997, second series of bank notes were issued only with 50 and 100 nakfa notes and were dated 24 May 2004, third series of bank notes also were issued only with 50 and 100 nakfa notes and were dated 24 May 2011, fourth series of bank notes were issued only with the 10 and 20 nakfa notes and were dated 24 May 2012. The current fifth banknote series is dated on 24 May 2015 which rendered all previous currency valueless. Currently the bank notes in circulation are 1, 5, 10, 20, 50, 100 nakfa.

Eritrean Nakfa

Eritrean Nakfa (Eritrea):

Code: ERN

Symbol: Nfk

Subunit:

1= cent

Banknotes:

1, 5, 10, 20, 50, 100 nakfa

Coins:

 1, 5, 10, 25, 50 cents, 1 nakfa

Central bank:

Bank of Eritrea

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