Australian Dollar in Eritrean Nakfa

AUD Australian Dollar

Country of application:
Australia, Kiribati, Cocos Islands, Nauru, Norfolk Island, Christmas Island, Heard and McDonald

Coin denominations in circulation:
2 and 1 dollar, 50, 20, 10 and 5 cents.

Denominations of banknotes in circulation:
100, 50, 20, 10 and 5 dollars.

History reference:
The Australian dollar is the currency in Australia, including its outer territories. : Christmas Island, Cocos (Keeling) Islands and Norfolk Island. It is officially used as the currency of three ind...ependent Pacific island nations: Kiribati, Nauru and Tuvalu. It is legal tender in Australia. Since 1988, a special plastic material has been used in the manufacture of Australian dollar banknotes. Australian dollar banknotes are printed at the state-owned factories of the Royal Australian Mint, located in Melbourne and Perth. Australian coins have a regular round shape. The exception is a coin of fifty cents, made in the form of a regular tetrahedron. On the obverse of the coins there is an image of the profile portrait of Queen Elizabeth II of Great Britain (as the official head of the Commonwealth of Australia), and on the reverse there are animals of Australia.

ERN Eritrean Nakfa

Country of application:
Eritrea

Coin denominations in circulation:
1, 5, 10, 25, 50 cents, 1 nakfa.

Denominations of banknotes in circulation:
1, 5, 10, 20, 50, 100 nakfa.

History reference:
The Eritrean nakfa is the national currency and fiat money of the State of Eritrea, a state in East Africa. Nakfa was introduced in 1997 when it replaced the Ethiopian Birr after the War of Independe...nce. The country went through seven years of stabilization, reconstruction and development before the start of a new border war with Ethiopia in 1998. In mid-2018, a turning point took place in the external environment of Eritrea. Ethiopia signed a peace treaty with Eritrea in July 2018. Eritrea has begun to normalize relations with neighboring countries. In November 2018, the UN Security Council lifted sanctions on Eritrea. The current account surplus will remain high in 2020, driven by Eritrean remittances from abroad (12% of GDP) and mining exports (25% of GDP).