Eritrean Nakfa in Indian Rupee

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).

INR Indian Rupee

Country of application:
India

Coin denominations in circulation:
10, 5, 2 and 1 rupee, 50, 25, 20 and 10 paise.

Denominations of banknotes in circulation:
Rs 2,000, 500, 100, 50, 20, 10 and 5.

History reference:
The Indian rupee is the currency of the Republic of India. Bank code INR. The latest series of Indian banknotes is entirely dedicated to Mahatma Gandhi, the leader of the movement for the countrys in...dependence from Great Britain, a supporter of the method of non-violent resistance in the struggle for transformation in society. His portrait adorns the front side of all banknotes from 5 to 2,000 rupees. For example, on the back of 500 rupees - an illustration of one of the episodes of Mahatma Gandhis peaceful struggle against colonial taxes, the so-called Salt March - a procession to protest against the salt tax, which united tens of thousands of Hindus during 1930. Banknotes of 1000 rupees at the beginning of 2017 went out of circulation. On the territory of the country there is a wonderful coin museum, which presents all the coins that have ever existed in the country. Soon, the rupiah currency appeared on the territory of the country, which appeared under the ruler Sher Shah (1539–1545). It gained particular distribution in the country under the ruler Akbar (1556-1605).