ERN 1 | Bank Note | 1 Nakfa | Kae Kae | CurrencyStackerKK | Eritrea | Africa
1 Eritrean Nakfa
The Nakfa (ISO 4217 code: ERN; Tigrinya: ናቕፋ naḳfa, Arabic: ناكفا nākfā) is the currency of Eritrea and was introduced on 8 November 1997 to replace the Ethiopian birr at par. The currency takes its name from the Eritrean town of Nakfa, the site of the first major victory of the Eritrean War of Independence. The nakfa is divided into 100 cents.
The current series of banknotes is the artwork of an Afro-American banknote designer, Clarence Holbert, and printed by German currency printer Giesecke & Devrient.
Between 18 November and 31 December 2015, the Bank of Eritrea began the replacement of all nakfa banknotes. The banknote replacement initiative was designed to combat counterfeiting, the informal economy but primarily Sudanese human traffickers who had accepted payments in nakfa banknotes in exchange for transporting would-be migrants primarily to Europe. A consequence of this was substantial amounts of the country’s currency existed in vast hoardings outside of Eritrea.
On 1 January 2016, the old nakfa banknotes ceased being recognized as legal tender, rendering external stockpiles of currency worthless.
The current series of banknotes is the artwork of an Afro-American banknote designer, Clarence Holbert, and printed by German currency printer Giesecke & Devrient.
#KokulaKrishnaHariK – ASDF International Secretary – Computer Science Specialist. Visit www.kokulakrishnaharik.in for more information.
Follow my Instagram page at https://www.instagram.com/currencystackerkk/.
View the same at https://www.facebook.com/currencystackerkk/
Source Video: Click to Watch the Source
Tags: Kokula Krishna Hari K,ASDF,KKHari,KKKHari,Indian,KK,Kae Kae,Krishna,Kokula,Hari,London,United Kingdom,IFS,Diplomat,Currency,Money,Banknotes,Paper,Polymer,CurrencyStacker,Hobby,Collector,Currency_Collector,Price,Value,Stock,Assets,Bank,Salary,Income,Commodity,Trading,Investment,Finance,Economics,Market,Exchange,bitcoin,forex,numismatics,coins,cryptocurrency,crypto,coin,numismatic,papermoney,forextrader,gold,business,collection,wealth,blockchain,entrepreneur,Eritrea,Nakfa,Africa,ERN,1ERN
Keywords: kokula krishna hari