ERN (Nfk)

Currency: Eritrean Nakfa

The Eritrean nakfa is the official currency of Eritrea. It is subdivided into 100 cents. The nakfa was introduced in 1997, replacing the Ethiopian birr. The Eritrean Nakfa is the official currency of Eritrea. It was introduced in 1997, replacing the Ethiopian birr. The currency is issued by the Bank of Eritrea and is subdivided into 100 cents. The nakfa has been subject to high inflation, and the government has had to issue new banknotes in higher denominations to keep up with the rising cost of living. Despite this, the nakfa remains an important currency in the region.