Convert Eritrean Nakfa to Mongolian Tugrik
Please provide values below to convert Eritrean Nakfa [ERN] to Mongolian Tugrik [MNT], or Convert Mongolian Tugrik to Eritrean Nakfa.
How to Convert Eritrean Nakfa to Mongolian Tugrik
1 ERN = 0.00422567493043412 MNT
Example: convert 15 ERN to MNT:
15 ERN = 15 × 0.00422567493043412 MNT = 0.0633851239565118 MNT
Eritrean Nakfa to Mongolian Tugrik Conversion Table
| Eritrean Nakfa | Mongolian Tugrik |
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Eritrean Nakfa
The Eritrean Nakfa (ERN) is the official currency of Eritrea, used for all monetary transactions within the country.
History/Origin
The Nakfa was introduced in 1997, replacing the Ethiopian Birr as Eritrea's national currency, to establish economic independence and stabilize the economy after independence in 1993.
Current Use
The ERN is actively used as the primary currency in Eritrea for everyday transactions, banking, and trade, with its value regulated by the country's central bank.
Mongolian Tugrik
The Mongolian Tugrik (MNT) is the official currency of Mongolia, used for all monetary transactions within the country.
History/Origin
Introduced in 1925, the Tugrik has undergone various reforms and redenominations, especially after Mongolia's independence from China and during the transition from a socialist economy to a market economy.
Current Use
Today, the Tugrik is widely used in Mongolia for everyday transactions, with banknotes and coins circulating throughout the country. It is also traded in foreign exchange markets.