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US dollar to Eritrean nakfa exchange rate
Find the best USD/ERN exchange rate for 17 Jan 2021.
Refreshing in: 60s | Sun, Jan 17, 03:58PM GMT
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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.
|Sub unit symbol:||c|
|Bank notes:||$1, $5, $10, $20, $50, $100|
|Coins:||1c, 5c, 10c, 25c, 50c|
|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.
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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|
Market rate for common transfer amounts USD to ERN
|US Dollars (USD)||Eritrean Nakfa (ERN)|
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