Banknotes of Eritrea

The official currency of Eritrea is the Nakfa, issued by the Bank of Eritrea since its introduction in 1997 following the country's independence from Ethiopia. Paper money was first issued in Eritrea in 1998, shortly after the establishment of the Nakfa. A key event in the currency's history was the 2005 redenomination, where old Nakfa banknotes were exchanged for new ones at a rate of one to one. Collectors often focus on the vibrant designs of Eritrean banknotes, which showcase a variety of local flora, fauna, and historical figures. The 2005 series, for example, features images of the national hero, Emperor Menelik II, and intricate patterns that reflect the country’s unique landscape. The diversity in color and imagery makes these notes appealing to numismatists and enhances their aesthetic value.