Convert Nigerian Naira to Eritrean Nakfa
Please provide values below to convert Nigerian Naira [NGN] to Eritrean Nakfa [ERN], or Convert Eritrean Nakfa to Nigerian Naira.
How to Convert Nigerian Naira to Eritrean Nakfa
1 NGN = 102.04686 ERN
Example: convert 15 NGN to ERN:
15 NGN = 15 × 102.04686 ERN = 1530.7029 ERN
Nigerian Naira to Eritrean Nakfa Conversion Table
| Nigerian Naira | Eritrean Nakfa |
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Nigerian Naira
The Nigerian Naira (NGN) is the official currency of Nigeria, used for all monetary transactions within the country.
History/Origin
Introduced in 1973, the Naira replaced the Nigerian pound at a rate of 2 Naira to 1 pound, and has undergone various redenominations and currency reforms since then.
Current Use
The Naira is widely used across Nigeria for everyday transactions, banking, and trade, with coins and banknotes issued by the Central Bank of Nigeria.
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.