Eritrean Nakfa in Polish Zloty

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).

PLN Polish Zloty

Country of application:
Poland

Coin denominations in circulation:
5, 2, 1 zloty, 50, 20, 10, 5, 2 and 1 grosz.

Denominations of banknotes in circulation:
200, 100, 50, 20 and 10 zlotys.

History reference:
Zloty (Polish - gold) - at least since the 15th century, the everyday name of the golden ducat, since 1526 - the main counting monetary unit, since 1564 - the silver coin of the Kingdom of Poland, an...d after the Commonwealth, from 1924 to the present - national currency of Poland. Initially, the word "złoty" in Poland was used to refer to foreign-made gold coins (mostly ducats), then for some time in the 16th century, the złoty was a counting monetary unit, and since 1564, złoty began to be minted in the form of silver coins. Before the zloty, other monetary units were used in Poland - the Polish mark (or, as it was also called the "hryvnia"), kopa, and the Krakow hryvnia.