Exchange rates for the US dollar in Eritrea / USD 1 = ERN ... (middle)

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Time series key	BBEX3.M.ERN.USD.CA.AC.A01
Unit	ERN
Dimension	one
Timespan	from 1997-11 to 2024-03
Last update	05.04.2024 01:03:40 PM

General	With effect from 8 November 1997, Eritrea ended its currency union with Ethiopia and adopted the nakfa as its own currency. The changeover from birr to nakfa took place between 8 and 28 November 1997 at the rate of 1:1. During this period the exchange rate to the US dollar was USD 1 = ERN 7.20.
Methodology	From November 1997 to March 1999 and since December 2000 calculated on the basis of buying and selling rates.
Source	Bank of Eritrea, Asmara.

Comment on 2001-09	On 10 September 2001, the nakfa was devalued. We recorded the following exchange rates (buying/selling rate). 7 September 2001: USD 1 = ERN 10.20 / 10.30 10 September 2001: USD 1 = ERN 13,55 / 13,80. Calculated devaluation: 25.0% (middle rate).
Comment on 1999-11	On 15 November 1999, the nakfa was devalued by 15.5%.

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