20 nakfa notes and was dated 24.5.2012. (May 24 is Eritrea's Independence Day). The current fifth banknote series which rendered all previous currency valueless is dated 24.5.2015. Exchange rate Eritrea's government has resisted calls to float the nation's currency, preferring the stability of a fixed exchange rate. However periodic devaluations have been made. ERN is a very weak currency. The de facto exchange rate of the currency is around 100 ERN for US$1. The currency does not have a good demand outside of Eritrea. The black markets that exist in Asmara and a few other towns show the diminishing values of ERN. See also Economy of Eritrea References External links Regulations concerning the nakfa from Afrol news Fixed exchange rate Currencies introduced in 1997