Eritrea
Nakfa (ERN) = 100 cents. Notes are in denominations of ERN100, 50, 10, 5 and 1. Coins are in denominations of ERN100, 50, 25, 10, 5 and 1.
Note
The IMF and the World Bank have recognized the circulation of Nakfa in both coin and paper note denominations.
Note
* Values are given against the Euro rather than Sterling as accurate exchange rate against Sterling is not available.
Import and export of local or foreign currency is unrestricted.
Mon-Fri 0800-1200 and 1400-1700, Sat 0800-1200.
US Dollar bills are the most convenient form of exchange. Foreign currencies can be exchanged at the Commercial Bank of Eritrea in Asmara (which provides the best exchange rate), private currency exchange offices and major hotels.
Credit cards are accepted in major hotels, airlines and major travel agencies. However, a commission of up to five per cent may be charged. Check with your credit or debit card company for details of merchant acceptability.
Major banks in Asmara and Massawa accept traveller's cheques as well as major hotels. US Dollar traveller's cheques are recommended; however, getting them changed at the bank can be a lengthy process.
