Eritrea declared independence from Ethiopia in 1993 following a 30-year armed struggle, and the Bank of Eritrea's 1997 coinage series was among the first acts of establishing a fully independent monetary infrastructure. The nakfa, introduced that same year, replaced the Ethiopian birr at par — a politically charged decision given the two nations would be at war within twelve months.
Eritrea declared independence from Ethiopia in 1993 following a 30-year armed struggle, and the Bank of Eritrea's 1997 coinage series was among the first acts of establishing a fully independent monetary infrastructure. The nakfa, introduced that same year, replaced the Ethiopian birr at par — a politically charged decision given the two nations would be at war within twelve months.