Convert Australian Dollar to Eritrean Nakfa
Please provide values below to convert Australian Dollar [AUD] to Eritrean Nakfa [ERN], or Convert Eritrean Nakfa to Australian Dollar.
How to Convert Australian Dollar to Eritrean Nakfa
1 AUD = 0.101946666666667 ERN
Example: convert 15 AUD to ERN:
15 AUD = 15 × 0.101946666666667 ERN = 1.5292 ERN
Australian Dollar to Eritrean Nakfa Conversion Table
| Australian Dollar | Eritrean Nakfa |
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Australian Dollar
The Australian Dollar (AUD) is the official currency of Australia, used in its territories and some Pacific Island nations.
History/Origin
Introduced in 1966, replacing the Australian pound, the AUD was initially pegged to the British pound and later transitioned to a floating exchange rate system in 1983.
Current Use
The AUD is widely used in Australia and its territories, serving as a major currency in international trade and finance, and is one of the most traded currencies globally.
Eritrean Nakfa
The Eritrean Nakfa (ERN) is the official currency of Eritrea, used for all monetary transactions within the country.
History/Origin
The Nakfa was introduced in 1997, replacing the Ethiopian Birr as Eritrea's national currency, to establish economic independence and stabilize the economy after independence in 1993.
Current Use
The ERN is actively used as the primary currency in Eritrea for everyday transactions, banking, and trade, with its value regulated by the country's central bank.