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Eritrean Nakfa

   

Eritrea - nakfa

Nakfa 1 = 100 cents

International designation: ERN

Denomination banknotes in circulation: 20, 50, 100, 200, 500

Value of coins in circulation 10, 20, 50, 100

History

That is to say everything was perfect until a certain point, when the country failed and passed it on inflation.

After that money worthless, and it was decided to create a new system of currency.

Still unable to raise enough money for that would again make a perfect currency, and after the introduction of new currency into the country, began to happen a lot of fakes, that is, people gradually began to be convinced that the currency was stable and not profitable.

Temporarily in the country was introduced West African pound, which helped for a short period of time to collect enough money for that would completely change the currency. And there was Nakfa (Nfa, ERN), a limited use Ethiopian birr (ETB).

Features

The monetary unit is quite interesting, but not so as the first test to make good currency.

That is, in itself it does little that is original, has the image of politicians as well as on the back a few landscapes and memorials.

Color gamma, which was used in the manufacture of banknotes rather pale and not colorful, but yet no less difficulty with the definition of nominal value practically does not exist, since the nominal value indicated large numbers on both sides.

Additionally

Travel industry is highly developed, in addition to further developing quite intensively.

Currency exchange preferably be carried out at banks or larger hotels in the capital, the exchange on the black market is illegal, and exchange rates there is much too low. Use of credit cards and travelers checks can only be in the public schools of the capital.