What currency does Eritrea use?

Eritrea uses the Eritrean Nakfa (ERN), named after the town of Nakfa where the independence struggle was based. The official exchange rate is fixed by the government at approximately 15 ERN per 1 USD, but a parallel market exists with rates of 30 to 50+ ERN per dollar. The nakfa is a closed currency, meaning you cannot import or export it. You must exchange all remaining nakfa before leaving the country.

Can I use credit cards in Eritrea?

No. Credit and debit cards do not work in Eritrea. There are no international card-accepting ATMs and no card terminals at any business, including hotels. Due to international sanctions and Eritrea's isolation from the global banking system, Visa, Mastercard, and all other international card networks are non-functional. You must bring all money as cash (USD or EUR) and exchange it locally.

Should I bring US dollars or euros to Eritrea?

Both work, but US dollars are slightly preferred as they are the most commonly quoted foreign currency. Euros are also widely accepted at exchange offices. Bring clean, new-series $100 bills for the best rates. Smaller denominations ($20, $50) get slightly worse rates. Some travelers also bring a mix of both currencies for flexibility.

Is there a black market for currency in Eritrea?

Yes. The parallel (informal) exchange rate is significantly higher than the official bank rate, often double or more. The official rate is around 15 ERN per USD, while the parallel rate can be 30 to 50+ ERN per USD. Exchanging on the parallel market is illegal and the government takes this seriously. Tourists caught exchanging informally risk fines, confiscation, or deportation. Most travelers exchange at official Himbol Exchange offices or banks.

Is Eritrea expensive for tourists?

At official exchange rates, Eritrea is moderately priced. A local meal costs 150 to 300 ERN ($10 to $20 at official rates). Hotels in Asmara range from 800 ERN ($53) for basic guesthouses to 3,000+ ERN ($200+) for the Asmara Palace. At parallel market rates (if accessible), prices would be much lower in real terms. Transport is cheap: a bus ride across Asmara costs 5 ERN.

Do I need a travel permit to leave Asmara?

Yes. Eritrea requires a travel permit to leave Asmara and visit other parts of the country. Permits are obtained from the Ministry of Tourism office in Asmara and specify which areas you can visit. This affects your money planning because you need to estimate how much cash to carry for your entire permitted itinerary, as there are no banks or exchange facilities outside Asmara and a few other cities.

Money in Eritrea: Currency, ATMs & Tips

💰 Quick Context: The Eritrean Nakfa

Eritrea uses the Eritrean Nakfa (ERN / Nfk). The official government rate is approximately 15 ERN = 1 USD, though a parallel market exists at significantly higher rates. Quick mental math at the official rate: multiply USD by 15 to get ERN, so a $10 meal costs about 150 ERN. Eritrea is one of the most isolated economies in Africa. International bank cards do not work anywhere in the country. There are no international ATMs. You must bring all your money as physical cash (USD or EUR) and exchange it locally. The nakfa is a closed currency that cannot be imported or exported.

🎧 Order US Dollars Before You Fly

Cards don't work in Eritrea. Bring USD or EUR cash for your entire trip.

Order USD → CEI Currency Exchange

Currency Controls & the Closed Economy

Eritrea operates one of the most controlled economies in Africa. The government sets the official exchange rate, restricts foreign currency holdings, and monitors financial transactions closely. Understanding these controls is essential before visiting.

Official vs. Parallel Rates

The official rate (approximately 15 ERN per USD) is used at banks and the government-run Himbol Exchange offices. A parallel market exists with rates often double the official rate (30–50+ ERN per USD), but exchanging informally is illegal and actively enforced. Unlike Algeria or Argentina where parallel exchange is tolerated, Eritrea's government takes currency violations seriously. Tourists caught exchanging outside official channels risk fines, confiscation of funds, and deportation. Use Himbol Exchange offices or bank branches in Asmara for all your exchanges.

Closed Currency Rules

You cannot bring nakfa into or out of Eritrea. On arrival, you must declare all foreign currency over $10,000 (or equivalent). On departure, you may be asked to show exchange receipts proving you converted money at official rates. Keep all exchange receipts from Himbol and banks throughout your trip. Spending down your nakfa before departure is the best approach. If you have excess nakfa, you can convert a limited amount back to USD at Himbol, but only with receipts proving you exchanged officially.

Cash vs. Card: What to Expect in Eritrea

Eritrea is 100% cash. There are no international ATMs, no card terminals, and no way to access money electronically from abroad. Visa, Mastercard, American Express, and all other international cards are completely non-functional throughout the country. Western Union and MoneyGram have limited offices in Asmara but are designed for diaspora remittances, not tourist use.

Bring all the cash you need for your entire trip. Calculate your daily budget, add a generous buffer (20–30%), and carry it in a mix of USD $100 bills (for the best exchange rate) and smaller denominations ($20s and $50s for flexibility). EUR €100 and €50 bills are also accepted at Himbol offices.

In Asmara, the capital, restaurants along Harnet Avenue (the main boulevard), cafés in the art deco city center, hotels like the Asmara Palace and Crystal Hotel, and the Medeber market all operate in nakfa cash. Outside Asmara (Massawa, Keren, the Dahlak Islands), the same applies: nakfa cash is the only payment method. There is no alternative.

How to Get Nakfa for Your Eritrea Trip

Eritrea is the most cash-only country in this entire list, more so than even Cuba or North Korea-tier locations: there are zero international ATMs, zero working card terminals, and zero electronic ways to access money from abroad. Visa, Mastercard, American Express — all non-functional. Western Union and MoneyGram have limited Asmara offices but they're for diaspora remittances, not tourist withdrawals. The only path is to bring all the USD or EUR cash you'll need for the entire trip and exchange at Himbol (the government-authorized exchange) or your hotel.

✈️ Easiest Arrival

Bring USD or EUR cash before you fly

Cost: 0% if you bring USD/EUR cash Convenience: Critical (no in-country alternative)

Eritrea is the rare destination where pre-arrival cash is absolutely the only viable strategy — not a backup, the entire plan. A currency-exchange service like CEI Currency Exchange ships clean USD or EUR to a US address with insured 2–5 day delivery. Bring crisp post-2009 bills only — Eritrean exchange offices reject worn or torn notes. Mix denominations: $100 and €100 notes get the best rates at Himbol, while $20s and $50s give you flexibility. Eritrean nakfa is essentially impossible to obtain outside Eritrea; even border-area exchange offices in Sudan or Ethiopia don't reliably stock it. Eritrea does not have a Bank of America Global ATM Alliance partner — and even if it did, no ATM in the country accepts foreign cards. Budget aggressively: calculate daily costs × trip days × 1.3, bring that amount in USD or EUR cash, and accept that there is no in-country backup if you run short.

💰 Cheapest

Exchange USD/EUR at Himbol or a Commercial Bank counter

Cost: Government-set rate (no markup but no flexibility) Convenience: Asmara only, weekday hours

On the ground, the only legal way to convert foreign cash to nakfa is at Himbol Exchange (the government-authorized foreign-exchange service, with offices on Harnet Avenue in central Asmara and near the main post office) or at the Commercial Bank of Eritrea branch counter. Both apply the official government rate, which is meaningfully different from any informal rate that locals might quote. Keep your exchange receipts: at departure, the airport currency-control checks may require proof of legitimate exchange, and any unspent nakfa can be reconverted only with documentation. ATMs in Eritrea exist but are domestic-card-only; foreign Visa or Mastercard ATM withdrawal is impossible. Do not rely on hotels for exchange beyond emergency small amounts. Curious how this compares to a normal-banking-country path? Our ATM fee calculator shows the math for somewhere your card actually works.

⚠️ Avoid

Hotel exchange windows & black-market touts

Cost: 0–20% hidden markup Convenience: High (right at arrivals)

Three traps to avoid in Eritrea. The currency-exchange counter at ASM (Asmara International Airport) applies the same official Himbol rate, sometimes with extra fees that effectively widen the spread. Hotel exchange windows offer convenience but typically pay 5–15% less than Himbol downtown. Critical warning: black-market currency exchange in Eritrea is illegal, actively policed, and not worth the risk; tourists who attempt it have faced arrest and significant penalties. Stick to Himbol on Harnet Avenue or the Commercial Bank of Eritrea, keep all exchange receipts, and budget aggressively up front because there is essentially no working in-country backup. Eritrea does not yet have a city-specific guide on this site, but the exchange section below covers the legal exchange points.

For a side-by-side comparison of every method (bank wire, travel card, pre-order, ATM, exchange counter) including USD-or-EUR-to-ERN timing tips, see our complete Getting Currency guide →.

Eritrea Money Guide