Eritrea

Eritrea new note family (B113 - B117) reportedly introduced November 2015

According to an article in TesfaNews dated 29 November 2015, the Bank of Eritrea is replacing preceding issues at par with these new notes from 18 November to the end of 2015. During the first two weeks, individuals and entities may deposit any amount of money in their accounts, but during the last four weeks, deposits and exchanges will be limited to 20,000 nakfa. On 1 January 2016, the old nakfa notes will be demonetized. The move is meant to harm black marketeers who hoard large sums of money for informal foreign currency exchange, money laundering, counterfeiting, and contraband purposes.

The 100-nakfa note (B110) had been printed in 2011 but held in storage and released only now in late 2015. All the other notes in this new family are dated 24.5.2015 and have AA prefixes, indicating a new family, but the 100-nakfa is dated 24.5.2011 and has prefix AJ.

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Eritrea new currency reported


According to Legal Notice No. 124/2015 dated 4 November 2015, the Bank of Eritrea plans to replace its currently circulating banknotes at par for a new series of notes. Although it has not yet announced when the change will take place, the currency redemption process will last six weeks. During the first two weeks, individuals and entities may deposit any amount of money in their accounts, but during the last four weeks, deposits and exchanges will be limited to 20,000 nakfa. After six weeks, the old nakfa notes will be demonetized.

Courtesy of Simon G. Tewolde.

Eritrea new 20-nakfa note confirmed

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20 nakfa, 24.5.2012. Like BOE B4, but new color scheme, new date, new signatures, and windowed security thread.

Anyone interested in buying one of these notes can contact the contributor by clicking the link below.

Courtesy of Hartmut Fraunhoffer (www.banknoten.de).

Eritrea new 10-nakfa note confirmed

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10 nakfa, 24.5.2012. Like BOE B3, but new date, new signature, new color scheme, and windowed security thread on back. Intro: 2014.

When other denominations underwent color changes, they continued the prefixes from the preceding issues. Curiously, this new note reverts back to prefix AA.

Anyone interested in buying one of these notes can contact the contributor by clicking the link below.

Courtesy of Hartmut Fraunhoffer (www.banknoten.de), Dennis Zammit and Alexander Petrov.

Eritrea new 50-nakfa notes confirmed

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According to a press release dated 16 January 2012 on Sabait.com, the web site of Eritrea’s Ministry of Information, the National Bank of Eritrea has produced new 50- and 100-nakfa (US$3.35 and $6.65, respectively) banknotes. Kibreab Woldemariam, administrator of the bank, said the new 50-nakfa note is already in circulation, and the new 100-nakfa note will be introduced soon.

“Explaining that it is common to change old currency notes with new one, Mr. Kibreab said that the previous currency notes of the same color were creating problem to identify. As a result, the National Bank of Eritrean was obliged to make the change. The Government has been conducting research to print colored currency notes of better color and that the process would be continue as regards other currency notes, he added. Pointing out that the newly circulated currency notes are of the same value with the previous ones, Mr. Kibreab called on the general public to utilize with due caution.”

Anyone interested in buying one of these notes can contact the contributor by clicking the link below. Be sure to say you saw it mentioned on BanknoteNews.com.

Courtesy of Nazir Rahemtulla and Philanote.

Eritrea new 50- and 100-nakfa notes reported

According to a press release dated 16 January 2012 on Sabait.com, the web site of Eritrea’s Ministry of Information, the National Bank of Eritrea has produced new 50- and 100-nakfa (US$3.35 and $6.65, respectively) banknotes. Kibreab Woldemariam, administrator of the bank, said the new 50-nakfa note is already in circulation, and the new 100-nakfa note will be introduced soon.

“Explaining that it is common to change old currency notes with new one, Mr. Kibreab said that the previous currency notes of the same color were creating problem to identify. As a result, the National Bank of Eritrean was obliged to make the change. The Government has been conducting research to print colored currency notes of better color and that the process would be continue as regards other currency notes, he added. Pointing out that the newly circulated currency notes are of the same value with the previous ones, Mr. Kibreab called on the general public to utilize with due caution.”

Additional information and images are requested so that this report can be confirmed.

Courtesy of Nazir Rahemtulla.

Eritrea chapter of The Banknote Book is now available

Eritrea

The Eritrea chapter of The Banknote Book is now available for individual sale at US$0.99, and as a free download to subscribers.

At the time of initial publication, this 4-page catalog covers every note (17 types and varieties, including 9 notes unlisted in the SCWPM) issued by the Bank of Eritrea from 1997 until present day.

Each chapter of The Banknote Book includes detailed descriptions and background information, full-color images, and accurate valuations. The Banknote Book also features:
  • Sharp color images of note’s front and back without overlap
  • Face value or date of demonetization if no longer legal tender
  • Specific identification of all vignette elements
  • Security features described in full
  • Printer imprint reproduced exactly as on note
  • Each date/signature variety assigned an individual letter
  • Variety checkboxes for tracking your collection and want list
  • Red stars highlight the many notes missing from the SCWPM
  • Date reproduced exactly as on note
  • Precise date of introduction noted when known
  • Replacement note information
  • Signature tables, often with names and terms of service
  • Background information for historical and cultural context
  • Details magnified to distinguish between note varieties
  • Bibliographic sources listed for further research

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