Convert Mexican Peso to Eritrean Nakfa
Please provide values below to convert Mexican Peso [MXN] to Eritrean Nakfa [ERN], or Convert Eritrean Nakfa to Mexican Peso.
How to Convert Mexican Peso to Eritrean Nakfa
1 MXN = 1.24294666666667 ERN
Example: convert 15 MXN to ERN:
15 MXN = 15 × 1.24294666666667 ERN = 18.6442 ERN
Mexican Peso to Eritrean Nakfa Conversion Table
| Mexican Peso | Eritrean Nakfa |
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Mexican Peso
The Mexican Peso (MXN) is the official currency of Mexico, used for everyday transactions and financial exchanges within the country.
History/Origin
The Mexican Peso originated in the 19th century, evolving from the Spanish dollar and undergoing various reforms. It was decimalized in 1905 and has experienced multiple currency reforms, including the introduction of the current peso in 1993 to stabilize the economy.
Current Use
Today, the Mexican Peso is widely used in Mexico for all forms of payment, both cash and electronic, and is one of the most traded currencies in Latin America.
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.