Convert Eritrean Nakfa to Somali Shilling
Please provide values below to convert Eritrean Nakfa [ERN] to Somali Shilling [SOS], or Convert Somali Shilling to Eritrean Nakfa.
How to Convert Eritrean Nakfa to Somali Shilling
1 ERN = 0.0262494933847777 SOS
Example: convert 15 ERN to SOS:
15 ERN = 15 × 0.0262494933847777 SOS = 0.393742400771665 SOS
Eritrean Nakfa to Somali Shilling Conversion Table
| Eritrean Nakfa | Somali Shilling |
|---|
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.
Somali Shilling
The Somali Shilling (SOS) is the official currency of Somalia, used for everyday transactions and monetary exchanges within the country.
History/Origin
The Somali Shilling was introduced in 1962, replacing the Somali Somali shilling, and has undergone various reforms and devaluations due to economic challenges and civil unrest over the decades.
Current Use
Today, the Somali Shilling remains the official currency of Somalia, used in cash transactions, with banknotes and coins issued by the Central Bank of Somalia. It is also used in some neighboring regions and for remittances.