Currency Information on Eritrean Nakfa
Currency Information on Eritrean Nakfa - ERN— Eritrean nakfa – Nfk or ናቕፋ
The official currency of Eritrea was introduced in 1997 and replaced the Ethiopian Birr at a 1:1 ratio. The nakfa is now pegged to the USD and currently stands at $1 = 15 nafka.
Although the currency is called the ‘nakfa’ and one nakfa is equal to 100 cents, denominations are presented in ‘x cents’, so the coins available are 1, 5, 10, 25, 50 and 100 cents.
Although denominations larger than 1 nakfa are presented in nakfa, meaning that the banknotes in circulation are available in denominations of 1, 5, 10, 20, 50 and 100 nakfa.