Convert Eritrean Nakfa to Swedish Krona
Please provide values below to convert Eritrean Nakfa [ERN] to Swedish Krona [SEK], or Convert Swedish Krona to Eritrean Nakfa.
How to Convert Eritrean Nakfa to Swedish Krona
1 ERN = 1.57161866244774 SEK
Example: convert 15 ERN to SEK:
15 ERN = 15 × 1.57161866244774 SEK = 23.5742799367162 SEK
Eritrean Nakfa to Swedish Krona Conversion Table
| Eritrean Nakfa | Swedish Krona |
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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.
Swedish Krona
The Swedish Krona (SEK) is the official currency of Sweden, used for everyday transactions and monetary exchanges within the country.
History/Origin
The Swedish Krona was introduced in 1873, replacing the Riksdaler. It was initially pegged to gold and later transitioned to a floating exchange rate system. The currency has undergone various reforms, including decimalization in 1874 and modernization efforts in the 20th and 21st centuries.
Current Use
Today, the Swedish Krona is widely used across Sweden for all financial transactions, including cash, digital payments, and banking, and is recognized as a stable and integral part of the country's economy.