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.

Saudi Arabian Riyal

Saudi Arabian Riyal

The Saudi riyal (Arabic: ريال‎ riyāl); is the currency of Saudi Arabia. It is abbreviated as ر.س or SR (Saudi riyal). It is subdivided into 100 halalas (Arabic: هللة‎ Halalah).

3 Eritrean Nakfa to Saudi Arabian Riyal exchange rates chart

3 ERN to SAR exchange rates graph
3 ERN to SAR 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.

3 ERN to SAR exchange rates table

Exchange ERN to SAR
3 Eritrean Nakfa = 0.750 Saudi Arabian Riyal
6 Eritrean Nakfa = 1.500 Saudi Arabian Riyal
15 Eritrean Nakfa = 3.750 Saudi Arabian Riyal
30 Eritrean Nakfa = 7.500 Saudi Arabian Riyal
Exchange Eritrean Nakfa to Saudi Arabian Riyal
3 Eritrean Nakfa to Saudi Arabian Riyal 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.

3 ERN to SAR 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

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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.

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'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

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

If anything, it has actually strengthened his regime.

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Spotify launches in the Middle East and North Africa

DUBAI: Spotify, the world’s most popular paid music streaming service, officially launched in the Middle East and North Africa on Tuesday. The company said services would now be available in 13 Arab markets, including Saudi Arabia, the United Arab Emirates, Egypt, and Morocco but not Libya, Iraq, Syria, or Yemen. Spotify has been unofficially available in the Middle East for

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Saudi Arabia agrees to withdraw additional Umrah tax on Pakistanis

Saudi Crown Prince agreed to abolish SAR2,000 additional fee after PM Imran’s request

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Saudi conference boycott over Khashoggi shows political threat to economy

By Andrew Torchia and Hadeel Al Sayegh DUBAI (Reuters) - A Western boycott of a major business conference in Riyadh next week suggests rising political

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3 ERN to SAR currency converter