Convert United States Dollar to Eritrean Nakfa
Please provide values below to convert United States Dollar [USD] to Eritrean Nakfa [ERN], or Convert Eritrean Nakfa to United States Dollar.
How to Convert United States Dollar to Eritrean Nakfa
1 USD = 0.0666666666666667 ERN
Example: convert 15 USD to ERN:
15 USD = 15 × 0.0666666666666667 ERN = 1 ERN
United States Dollar to Eritrean Nakfa Conversion Table
| United States Dollar | Eritrean Nakfa |
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United States Dollar
The United States Dollar (USD) is the official currency of the United States of America, used as a standard unit of monetary value and exchange.
History/Origin
The USD was established in 1792 with the Coinage Act, replacing the Continental Congress's Continental Currency. It has since become one of the world's dominant reserve currencies, influenced by the economic growth of the U.S. and global financial markets.
Current Use
The USD is widely used domestically and internationally for trade, investment, and as a reserve currency. It is the most traded currency in the foreign exchange market and is used as the standard currency in many international transactions.
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.