Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

US dollar to Eritrean nakfa exchange rate

Find the best USD/ERN exchange rate for 17 Jan 2021.

Live Rate

= Nfk 14.9998

Refreshing in: 60s | Sun, Jan 17, 03:58PM GMT

  • Cheap transfers
  • Bank-beating exchange rates
  • Safe and reliable

Looking for the best exchange rate?

There are other factors to consider when sending an international money transfer in addition to the exchange rate, including the transfer fees, the payment method, the speed of delivery and the level of customer service. What’s best for you might not be best for someone else.

Send money to Eritrea with WorldRemit

WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.

  • No minimum transfers.
  • Wide range of destinations.
  • Competitive exchange rate.
Promoted

How can I get the best exchange rate between US dollar and the Eritrean nakfa?

The best exchange rate by far in Eritrea is available on the black market in the streets of Asmara, the capital city. In fact, you may be able to get many times more Eritrean nakfa for your US dollars than you would through other services. Keep in mind that exchanging money on the black market is illegal and punishable in Eritrea.

ATMs are known to be extremely limited in Eritrea, so don’t rely on using a credit or debit card during your trip. Instead, make sure you bring a sufficient amount of cash with you, either in US dollars or Eritrean nakfa.

If you’re sending money to someone in Eritrea, choose the money transfer service that offers an exchange rate as close to the mid-market rate as possible, but keep in mind any fixed service fees that may be added on top — some of these services will also offer cash-pickup for your recipient.

US Dollar

The US dollar is the most traded currency in the world. The world’s unofficial reserve currency, it can be found in most major currency pairs. In forex, it’s an important benchmark and target rate for countries that fix or peg their currencies against its value. It is also used as the standard currency for oil, precious metals and other commodities.
Currency:US Dollar
Currency Symbol:$
Sub unit:cents
Sub unit symbol:c
Bank notes:$1, $5, $10, $20, $50, $100
Coins:1c, 5c, 10c, 25c, 50c

Eritrean Nakfa

The nakfa is the official currency of Eritrea, an African country that does not have an official language. It replaced the Ethiopian birr in 1997 and is pegged to the US dollar.
Currency:Eritrean Nakfa
Currency Symbol:Nfk
Sub unit:cent
Sub unit symbol:c
Bank notes:1, 5, 10, 20, 50, 100 nakfa
Coins:1c, 5c, 10c, 25c, 50c, 1 nakfa

What affects exchange rates between the US dollar and the Eritrean nakfa?

Although the Eritrean currency is officially pegged to the US dollar, the black market rate fluctuates based on the supply and demand in the market. Factors that can affect the black market exchange rate include things like:

  • How difficult it is for Eritrean people to get access to dollars
  • The shape of the Eritrean economy
  • Employment levels in the country

The official exchange rate between the dollar and the nakfa is not affected by any external factors.

Send money from USD to ERN

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
$1 3 - 5 days USD 20.00 14.625 ERN 7,020 Western Union sends money online to friends and family in 200+ countries around the world. Show details
$1 Same day USD 1.00 14.7 ERN 7,335 Ria lets you send money to 130+ countries with cash pick-up at 240,000 locations. Go to site Show details

Compare up to 4 providers

How does the Eritrean nakfa trade against the US dollar historically?

  • In 1997, the Eritrean nakfa was introduced when it replaced the Ethiopian birr as the official currency of Eritrea.
  • In 2005, the nakfa became pegged at a rate of 15 nakfa to 1 dollar, following a devaluation from 13.50 nakfa to 1 dollar

It is reported online that the black market rate on the streets in Eritrea is about 100 nakfa to 1 dollar. Following the most recent devaluation in 2005, the black market rate was about 20 nakfa to 1 dollar.

US Dollar to the Eritrean Nakfa for the last 10 days

Jan 07 Jan 08 Jan 09 Jan 10 Jan 11 Jan 12 Jan 13 Jan 14 Jan 15 Jan 16
1 USD = 14.9996 Inverse: 0.0667 14.9997 Inverse: 0.0667 14.9998 Inverse: 0.0667 14.9998 Inverse: 0.0667 14.9997 Inverse: 0.0667 14.9997 Inverse: 0.0667 14.9998 Inverse: 0.0667 14.9996 Inverse: 0.0667 14.9997 Inverse: 0.0667 14.9998 Inverse: 0.0667

US Dollar to the Eritrean Nakfa for the last 10 months

Mar 2020 Apr 2020 May 2020 Jun 2020 Jul 2020 Aug 2020 Sep 2020 Oct 2020 Nov 2020 Dec 2020
1 USD = 14.9997 Inverse: 0.0667 14.9998 Inverse: 0.0667 14.9997 Inverse: 0.0667 15.0031 Inverse: 0.0667 15.0030 Inverse: 0.0667 15.0031 Inverse: 0.0667 14.9999 Inverse: 0.0667 14.9999 Inverse: 0.0667 15.0005 Inverse: 0.0667 14.9998 Inverse: 0.0667

US Dollar to the Eritrean Nakfa for the last 10 years

Jan 2011 Jan 2012 Jan 2013 Jan 2014 Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020
1 USD = 0.0000 0.0000 0.0000 14.9463 Inverse: 0.0669 15.1138 Inverse: 0.0662 15.0015 Inverse: 0.0667 15.3400 Inverse: 0.0652 15.2605 Inverse: 0.0655 14.9972 Inverse: 0.0667 14.9996 Inverse: 0.0667

Get the best rates for USD/ERN exchanges

Market rate for common transfer amounts USD to ERN

US Dollars (USD) Eritrean Nakfa (ERN)
$1 0
$100 0
$500 0
$1000 0
$1500 0
$2500 0
$5000 0

More guides on Finder

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and finder.com Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site