Remitly vs Wise: Comparing fees, limits, cash pickup & more
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The Eritrean Nakfa (ERN) is the official currency of Eritrea, issued by the Bank of Eritrea. Introduced in 1997, it replaced the Ethiopian Birr as part of Eritrea’s economic independence following its separation from Ethiopia. The Nakfa is pegged to the US dollar at a fixed rate of approximately 1 USD = 15 ERN, though black market rates vary significantly. Eritrea’s economy is based on agriculture, mining, and remittances, with government-controlled financial policies influencing the Nakfa's stability.
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Last updated: Exchange rates here are informational, reflecting mid-market rates which fluctuate regularly. For an estimation of the rates offered by Instarem, please check our currency conversion calculator at the time of transfer.
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