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Currency
 
Eritrea's national currency is called "Nakfa". Its name is given after mountains located in Northern Eritrea. This place has been a stronghold of the Eritrean people's Liberation Front (EPLF) almost from the start of the armed struggle.

There is 100 Nakfa, 50 Nakfa, 20 Nakfa, 10 Nakfa, 5 Nakfa and 1 Nakfa note. Additionally, there are 1 cent, 5 cent, 10 cent, 25 cent, 50 cent and 100 cent coins.

The official currency conversion from the Bank of Eritrea is as follows for the major currencies in the world.

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   Bank of Eritrea official exchange rate

Foreign currency Buy rate Sell rate
US Dollars 15.0000 15.7500
Euro 22.0350 22.7945
Pound Sterling 30.660 31.7361
Japanese Yen 0.1335 0.1389
Swiss Franc    13.2105 13.6922
Canadian Dollar 14.7960 15.2531
Danish Kroner
2.9535 3.0527
Norwegian Kroner 2.7765 2.8662
Swedish Kroner 2.3340 2.4168
Saudi Riyal 4.0000 4.2000
Abudhabi Dirham 4.0875 4.2504
Australian Dollar 13.2105 13.6992
     
* Bank of Eritrea Nakfa per unit of foreign currency Official exchange rate

On December 14, 2007
 
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