Nakfa (ERN) = 100 cents. Notes are in denominations of ERN100, 50, 10, 5 and 1. Coins are in denominations of ERN100, 50, 25, 10, 5 and 1.

The IMF and the World Bank have recognised the circulation of Nakfa in both coin and paper note denominations.

US Dollar bills are the most convenient form of exchange. Foreign currencies can be exchanged at the Commercial Bank of Eritrea in Asmara (which provides the best exchange rate), private currency exchange offices and major hotels.

Credit cards are accepted in major hotels, airlines and major travel agencies. However, a commission of up to 5 per cent may be charged.

Major banks in Asmara and Massawa accept traveller's cheques as well as major hotels. US Dollar traveller's cheques are recommended; however, getting them changed at the bank can be a lengthy process.

Import and export of local or foreign currency is unrestricted.

Mon-Fri 0800-1200 and 1400-1700, Sat 0800-1200.