Eritrean Nakfa

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Eritrean Nakfa

The currency of Eritrea. It was introduced in 1997, replacing the Ethiopian birr. It is issued by the Bank of Eritrea and is pegged to the U.S. dollar.
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References in periodicals archive ?
The bank tells us they have no foreign exchange to sell us, and whereas we used to get it from them at the rate of $7.20 to the nakfa, we are now subject to the black market rate of $14-15 per nakfa.
AB: You recently launched the nakfa. What plans do you have to maintain its value?
TB: The coinage is being prepared in Birmingham, England, and the Nakfa will come into place this year.