🇪🇷Nakfa (ERN)
The nakfa was introduced in 1997, replacing the Ethiopian birr that had circulated since Eritrea's federation with and later annexation by Ethiopia. It is named after the town of Nakfa, a symbol of Eritrea's decades-long independence struggle. The currency is officially pegged near 15 nakfa per US dollar, though a large gap has persisted between the official rate and unofficial market rates due to strict currency controls and limited convertibility.
ERN ⇄ USD Converter
History
The nakfa was introduced in 1997, replacing the Ethiopian birr that had circulated since Eritrea's federation with and later annexation by Ethiopia. It is named after the town of Nakfa, a symbol of Eritrea's decades-long independence struggle. The currency is officially pegged near 15 nakfa per US dollar, though a large gap has persisted between the official rate and unofficial market rates due to strict currency controls and limited convertibility.
Denominations
Nakfa banknotes commonly circulate in these denominations:
- 1, 5, 10 nakfa — small notes for everyday purchases
- 20, 50 nakfa — common mid-value notes
- 100 nakfa — the highest-denomination note
Frequently Asked Questions
What is the currency symbol for the nakfa?
The nakfa's symbol is Nfk. Its ISO 4217 currency code is ERN.
Why is the nakfa named that?
It's named after the town of Nakfa in northern Eritrea, a key stronghold during the country's 30-year war of independence from Ethiopia, which ended in 1991.
Is the nakfa freely convertible?
Not really — strict currency controls mean the official exchange rate can differ significantly from unofficial market rates, and access to foreign currency is limited.
Where can I see rates for other African currencies?
Check the full currency directory on the African Currencies homepage, which covers all 54 African countries.