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US dollar to Eritrean nakfa exchange rate

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

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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.

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:
-Bank notes:
+$1, $5, $10, $20, $50, $100
-Coins:
+c, 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:
-Bank notes:
+, 5, 10, 20, 50, 100 nakfa
-Coins:
+c, 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

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

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US dollar to Eritrean nakfa exchange rate

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

Looking for the best exchange rate?

Send money to Eritrea with WorldRemit

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

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

Send money from USD to ERN

Compare up to 4 providers

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

US Dollar to the Eritrean Nakfa for the last 10 days

US Dollar to the Eritrean Nakfa for the last 10 months

US Dollar to the Eritrean Nakfa for the last 10 years

Market rate for common transfer amounts USD to ERN

Exchange rates from USD to other currencies

More guides on Finder

Ask an Expert

US dollar to Eritrean nakfa exchange rate

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

Looking for the best exchange rate?

Send money to Eritrea with WorldRemit

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

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

Send money from USD to ERN

Compare up to 4 providers

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

US Dollar to the Eritrean Nakfa for the last 10 days

US Dollar to the Eritrean Nakfa for the last 10 months

US Dollar to the Eritrean Nakfa for the last 10 years

Market rate for common transfer amounts USD to ERN

Exchange rates from USD to other currencies

More guides on Finder

Ask an Expert

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