The Eritrean Nakfa, introduced in 1997, serves as a beacon of national identity for Eritrea, symbolizing the country’s hard-won independence from Ethiopia in 1993. The currency replaced the Ethiopian birr at a one-to-one rate, marking a crucial step in Eritrea’s economic autonomy. Named after the strategic town of Nakfa, a site of significant battles during the Eritrean War of Independence, the currency holds deep patriotic significance for Eritreans.

What makes the Nakfa particularly unique is its role in the currency peg system — it was initially pegged to the US dollar, illustrating Eritrea’s strategic approach to economic stability in the early years of its independence. Also, rather than featuring images of political leaders, Nakfa notes showcase Eritrea’s cultural and historical diversity, including images of its ethnic groups, emphasizing unity and national pride.