Eritrea / 0 Products

Eritrea is a country located in the Horn of Africa, bordered by Sudan to the west, Ethiopia to the south, and Djibouti to the southeast. Asmara is the capital city of Eritrea. The country gained independence from Ethiopia in 1993 after a long struggle for liberation. The economy is primarily based on agriculture, mining, and fisheries. Eritrea is known for its unique landscapes, including the Danakil Depression and the Dahlak Archipelago and its vibrant traditional cultures.

The currency of Eritrea is the Eritrean nakfa, abbreviated as ERN. It was introduced in 1997, replacing the Ethiopian birr at par. Before the introduction of the Nakfa, the official currency used in Eritrea was the Ethiopian birr. The birr was commonly referred to by various names such as "kirshi," "riyal," "ghenzah," "soldi," "lira," "thaler," and even "dollar." These diverse names reflect the rich tapestry of cultural influences present in the region.

The name "nakfa" comes from the town of Nakfa in northern Eritrea, which served as a symbolic stronghold during the Eritrean War of Independence. The first series of coins included denominations of 1, 5, 10, 25, 50 cents, and 1 nakfa. These coins were minted in aluminum and feature various motifs including traditional Eritrean cultural symbols.

In 2012, a new series of coins was introduced. The new series maintained the same denominations but featured updated designs and were minted in brass-plated steel. The designs on these coins include representations of Eritrea's diverse wildlife, historical landmarks, and cultural symbols.

The second series of coins introduced in 2012 were still in circulation. These coins remain the standard denominations for daily transactions in Eritrea. The Eritrean nakfa maintains a fixed exchange rate with the United States dollar, set at $1 = ERN 15. Previously, it was officially fixed at $1 = ERN 13.50.

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