Convert Chinese Yuan to Eritrean Nakfa
Please provide values below to convert Chinese Yuan [CNY] to Eritrean Nakfa [ERN], or Convert Eritrean Nakfa to Chinese Yuan.
How to Convert Chinese Yuan to Eritrean Nakfa
1 CNY = 0.47826 ERN
Example: convert 15 CNY to ERN:
15 CNY = 15 × 0.47826 ERN = 7.1739 ERN
Chinese Yuan to Eritrean Nakfa Conversion Table
| Chinese Yuan | Eritrean Nakfa |
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Chinese Yuan
The Chinese Yuan (CNY) is the official currency of China, also known as Renminbi (RMB), and is used for all monetary transactions within the country.
History/Origin
The Chinese Yuan was introduced in 1949 following the establishment of the People's Republic of China. It has undergone various reforms and reforms, including decimalization in the 1950s and modernization efforts in recent decades to stabilize and internationalize the currency.
Current Use
Today, the CNY is widely used domestically across China and is increasingly recognized internationally, with the Chinese government promoting its use in global trade and finance. It is also a component of the International Monetary Fund's Special Drawing Rights (SDR).
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.