US Dollar to Eritrean Nakfa Exchange Rate

Live Rate

= Nfk 14.9997

Refreshing in: 60s | Wed, Oct 16, 09:24AM GMT

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

Why we like: WorldRemit

WorldRemit - Hero

Your first transfer is free with the code FINDER.

  • The first transfer is free
  • 30,000+ partner agent locations worldwide
  • No minimum transfer amount

Why we like: WorldRemit

Send money to 140+ countries for bank deposit, instant e-wallet, mobile top-up or cash pickup at 30,000+ agent locations worldwide.

  • Use promo code FINDER to send your first transfer with no fee.
  • Easy to use with round-the-clock help.
  • Get cash to family and friends in minutes.
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
USD 1 3 - 5 days USD 0.00 14.7 ERN 7,350 No fees for bank account transfers and cash pickup at 240,000 locations in 130+ countries. 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

Oct 06 Oct 07 Oct 08 Oct 09 Oct 10 Oct 11 Oct 12 Oct 13 Oct 14 Oct 15
1 USD = 14.9998 Inverse: 0.0667 14.9999 Inverse: 0.0667 14.9996 Inverse: 0.0667 14.9996 Inverse: 0.0667 14.9998 Inverse: 0.0667 14.9996 Inverse: 0.0667 14.9998 Inverse: 0.0667 14.9998 Inverse: 0.0667 14.9997 Inverse: 0.0667 14.9997 Inverse: 0.0667

US Dollar to the Eritrean Nakfa for the last 10 months

Dec 2018 Jan 2019 Feb 2019 Mar 2019 Apr 2019 May 2019 Jun 2019 Jul 2019 Aug 2019 Sep 2019
1 USD = 14.9959 Inverse: 0.0667 14.9975 Inverse: 0.0667 14.9979 Inverse: 0.0667 14.9982 Inverse: 0.0667 14.9973 Inverse: 0.0667 14.9977 Inverse: 0.0667 14.9967 Inverse: 0.0667 14.9998 Inverse: 0.0667 14.9996 Inverse: 0.0667 14.9997 Inverse: 0.0667

US Dollar to the Eritrean Nakfa for the last 10 years

Oct 2009 Oct 2010 Oct 2011 Oct 2012 Oct 2013 Oct 2014 Oct 2015 Oct 2016 Oct 2017 Oct 2018
1 USD = 0.0000 0.0000 0.0000 0.0000 0.0000 15.0626 Inverse: 0.0664 15.1400 Inverse: 0.0661 15.2750 Inverse: 0.0655 15.3236 Inverse: 0.0653 14.9981 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

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 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