Convert British Pound Sterling to Eritrean Nakfa
Please provide values below to convert British Pound Sterling [GBP] to Eritrean Nakfa [ERN], or Convert Eritrean Nakfa to British Pound Sterling.
How to Convert British Pound Sterling to Eritrean Nakfa
1 GBP = 0.0493466666666667 ERN
Example: convert 15 GBP to ERN:
15 GBP = 15 × 0.0493466666666667 ERN = 0.7402 ERN
British Pound Sterling to Eritrean Nakfa Conversion Table
| British Pound Sterling | Eritrean Nakfa |
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British Pound Sterling
The British Pound Sterling (GBP) is the official currency of the United Kingdom and its territories, used as a standard unit of monetary value.
History/Origin
The Pound Sterling is one of the oldest currencies still in use, dating back to the 8th century. It was originally a silver coin and has evolved through various forms, including the gold standard and fiat currency, becoming the UK's primary currency in the 19th century.
Current Use
Today, the GBP is widely used in the UK and its territories, serving as the main currency for everyday transactions, banking, and international trade. It is also a major reserve currency 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.