The nakfa (ISO 4217 code: ERN; Tigrinya: ናቕፋ naḳfa, or Arabic: ناكفا or نقفة nākfā) is the currency of Eritrea and was introduced on 15 November 1997 to replace the Ethiopian birr at par.

The plan to replace the country's currency was top secret and designed to prevent human traffickers bringing their funds back in time to exchange for the new banknotes.

[3] On 1 January 2016 the old nakfa banknotes ceased being recognized as legal tender, rendering external stockpiles of currency worthless.

The common reverse shows fighters raising the Eritrean flag, the date "1991" and the legend "Liberty, Equality and Justice.

They depict ordinary people from each of Eritrea's nine principal ethnic groups (Tigrinya, Tigre, Rashaida, Nara, Afar, Saho, Bilen, Beja, Kunama), rather than any political or historical figures.

Eritrea's government has resisted calls to float the nation's currency, preferring the stability of a fixed exchange rate.