Convert New Zealand Dollar to Eritrean Nakfa
Please provide values below to convert New Zealand Dollar [NZD] to Eritrean Nakfa [ERN], or Convert Eritrean Nakfa to New Zealand Dollar.
How to Convert New Zealand Dollar to Eritrean Nakfa
1 NZD = 0.111266666666667 ERN
Example: convert 15 NZD to ERN:
15 NZD = 15 × 0.111266666666667 ERN = 1.669 ERN
New Zealand Dollar to Eritrean Nakfa Conversion Table
| New Zealand Dollar | Eritrean Nakfa |
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New Zealand Dollar
The New Zealand Dollar (NZD) is the official currency of New Zealand and its territories, used for everyday transactions and financial exchanges.
History/Origin
Introduced in 1967, replacing the New Zealand Pound, the NZD was initially pegged to the British Pound and later adopted a floating exchange rate system. It has undergone various reforms and is now managed by the Reserve Bank of New Zealand.
Current Use
The NZD is widely used in New Zealand and is also accepted in some Pacific Island nations. It is actively traded in international currency markets and is a key component of the country's economy.
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.