Eritrean Nakfa

Eritrean Nakfa

The nakfa (ISO 4217 code: ERN) is the currency of Eritrea and was introduced on 8 November 1997 to replace the Ethiopian birr at par. The currency takes its name from the Eritrean town of Nakfa, site of the first major victory of the Eritrean War of Independence. The nakfa is divided into 100 cents. The nakfa is pegged to the US dollar at a fixed rate of USD$1 = ERN15. Prior to that it was officially pegged at USD$1 = ERN13.50, however black market rates available on the streets typically offered a rate of 22 nakfas per dollar.Between 18 November and 31 December 2015, the Bank of Eritrea began replacement of all nakfa banknotes. The banknote replacement initiative was designed to combat counterfeiting, the informal economy but primarily Sudanese human traffickers who had accepted payments in nakfa banknotes in exchange for transporting would-be migrants primarily to Europe. A consequence of this was substantial amounts of the country's currency existed in vast hoardings outside Eritrea. The plan to replace the country's currency was top secret and designed to prevent human traffickers bringing their funds back in time to exchange for the new banknotes. On 1 January 2016 the old nakfa banknotes ceased being recognized as legal tender, rendering external stockpiles of currency worthless.The current series of banknotes is the artwork of an Afro-American banknote designer, Clarence Holbert, and printed by German currency printer Giesecke & Devrient.

Swedish Krona

Swedish Krona

The krona (Swedish: [²kruːna]; plural: kronor; sign: kr; code: SEK) has been the currency of Sweden since 1873. Both the ISO code "SEK" and currency sign "kr" are in common use; the former precedes or follows the value, the latter usually follows it but, especially in the past, it sometimes preceded the value. In English, the currency is sometimes referred to as the Swedish crown, as krona literally means crown in Swedish. The Swedish krona was the ninth-most traded currency in the world by value in April 2016.One krona is subdivided into 100 öre (singular and plural; when referring to the currency unit itself, however, the de facto plural form is ören). However, all öre coins have been discontinued as of 30 September 2010. Goods can still be priced in öre, but all sums are rounded to the nearest krona when paying with cash.

1 Eritrean Nakfa to Swedish Krona exchange rates chart

1 ERN to SEK exchange rates graph
1 ERN to SEK Spot rate – This is known more formally as the ‘interbank’ rate. It is the rate banks or large financial institutions charge each other when trading significant amounts of foreign currency. In the business, this is sometimes referred to as a ‘spot rate’. It is not the tourist rate and you cannot buy currency at this rate, as you are buying relatively small amounts of foreign currency. In everyday life it is the same as the difference between wholesale and retail prices. The rates shown in financial newspapers and in broadcast media are usually the interbank rates.

1 ERN to SEK exchange rates table

Exchange ERN to SEK
1 Eritrean Nakfa = 0.603 Swedish Krona
2 Eritrean Nakfa = 1.207 Swedish Krona
5 Eritrean Nakfa = 3.017 Swedish Krona
10 Eritrean Nakfa = 6.034 Swedish Krona
Exchange Eritrean Nakfa to Swedish Krona
1 Eritrean Nakfa to Swedish Krona Cross rate – This is the rate we give to customers who want to exchange currencies that do not involve the local currency. For example, if you want to exchange Australian dollars into US dollars.

1 ERN to SEK exchange rates news

With border open, Ethiopia and Eritrea are back in business
With border open, Ethiopia and Eritrea are back in business

With border open, Ethiopia and Eritrea are back in business

conditional negative
GIORNATA MONDIALE DELLA POSTA, L'UFFICIO DI ASMARA, ERITREA

Oggi, giornata mondiale della Posta. In Italia la Posta Regia è del 1862. In Eritrea, nella capitale Asmara, è costruita nel 1916, tra i primi edifici.

indicative neutral
'I was euphoric': Eritrea's joy becomes Ethiopia's burden amid huge exodus

As a sevenfold increase in the number of Eritrean refugees arriving in Ethiopia stretches regional resources, fears are growing that the border may close again

indicative negative
The peace deal with Ethiopia has not changed Afwerki's Eritrea

If anything, it has actually strengthened his regime.

conditional positive
GLOBAL MARKETS-Stocks struggle higher, dollar sapped by rate hike...

World shares struggled higher on Monday amid conflicting signals of a potential truce in the China-U.S. trade dispute, while the Federal Reserve's new-found concerns over the global economy sapped the dollar.

imperative neutral
Apple, trade woes sink stocks; growth worries drag on dollar

World stock markets fell on Monday as worries about softening demand for the iPhone dragged down shares of Apple Inc and persistent trade tensions between China and the United States sapped investor sentiment. Concerns about slowing economic growth also pushed down the dollar. The U.S. benchmark S

conditional neutral
MARKET ANALYSIS: TSX Ends Flat Again

OTTAWA (Alliance News) - After a weak start and a subsequent long spell in negative territory due ...

conditional positive

1 ERN to SEK currency converter