Eritrean nakfa
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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 (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.

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].

The nakfa has been pegged with the United States dollar at 1 dollar = 15 nakfa since January 1, 2005.

See also

• Economy of Eritrea

References

External links

• Don's World Coin Gallery - Eritrea
• Ron Wise's World Paper Money - Eritrea ^{Mirror site}
• Tables of Modern Monetary Systems by Kurt Schuler - Eritrea ^{Mirror site}
• The Global History of Currencies - Eritrea
• Global Financial Data currency histories table ( Microsoft Excel format)
• About the currency from Eritrea.com
• Regulations concerning the nakfa from Afrol news

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