Convert Eritrean Nakfa to Cuban Peso
Please provide values below to convert Eritrean Nakfa [ERN] to Cuban Peso [CUP], or Convert Cuban Peso to Eritrean Nakfa.
How to Convert Eritrean Nakfa to Cuban Peso
1 ERN = 0.625 CUP
Example: convert 15 ERN to CUP:
15 ERN = 15 × 0.625 CUP = 9.375 CUP
Eritrean Nakfa to Cuban Peso Conversion Table
| Eritrean Nakfa | Cuban Peso |
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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.
Cuban Peso
The Cuban Peso (CUP) is the official currency of Cuba, used for everyday transactions within the country.
History/Origin
The Cuban Peso has been the official currency of Cuba since 1960, replacing the Cuban peso convertible (CUC) as the primary currency after the monetary reforms. It has undergone various changes in value and design over the years, reflecting Cuba's economic policies and relations.
Current Use
Today, the Cuban Peso is used mainly for domestic transactions, while the CUC is used for tourism and foreign trade. The CUP remains an essential part of Cuba's monetary system, with recent reforms aiming to unify the currency system.