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.
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.
Misgina Nemariam, Technique Manager at NICE, recalled that the late 18 students and a teacher lost their lives in that tragic accident, and that the Government decided to extend 100 thousand Nakfa each.
Natsnet Arefaine, a national who resides in London, has contributed 50, 000 Nakfa to the Fund, in addition to the initiative to patronize a total of 10 families of martyrs.
Moreover, over 60 million Nakfa credit has been extended to farmers so as to motivate agricultural and trade activities, Mr.
The Ministry of Labor and Human Welfare indicated that Eritrean nationals residing in the USA have contributed a total of USD 208,244 and 100,000 Nakfa to Martyrs Trust Fund with a view to patronizing families of fallen heroes.
Shashu Gede, members of the villages development committee, pointed out that a total of 1million Nakfa has been contributed for the realization of the project.
The Agriculture Ministry s branch in Nakfa sub-zone, Northern Red Sea region, indicated that construction of a total of 8 water reservoirs is underway with a view to meeting the water demand in the locality.
Construction of a micro-dam is underway in Gordikh area, Hagaz sub-zone, at a total expenditure of 11million Nakfa and on the basis of a joint venture among the community members, sub-zonal administration, EDF members and members of the People s Army in the locality.
The residents of Omhajer semi-urban center, Goluj sub-zone, have extended a total of 40,000 Nakfa for development of a school library.
A high school worth of around 35 million Nakfa has been inaugurated in Sembel sub-zone on 26 April.