Eritrean Nakfa in Canadian Dollar

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).

CAD Canadian Dollar

Country of application:
Canada

Coin denominations in circulation:
2 and 1 dollar, 50, 25, 10 and 5 cents.

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

History reference:
The Canadian dollar is the national currency and monetary unit of Canada. The country of currency circulation is Canada. The rate of the Canadian dollar is set during trading on the currency exchange... and is constantly changing. Its value depends on the balance of supply and demand. According to the accepted in the 70s. IMF Jamaican currency system, this method of determining the exchange rate is called free conversion. When, in 1759, part of the state was captured by British troops, more than 60 thousand people already lived in it, using French as their main language. Since 2011, this figure has exceeded seven million, and the language has become the second officially recognized state language. As a tribute to the traditional names of such colonies, most often the Quebecers, but also others, call banknotes plays (pesos), and change coins sous, instead of cents.