Silver price in Eritrean Nakfa (ERN) — Eritrea
Today, 999 fine silver costs about 65.58 ERN per gram in Eritrea — roughly 2,040 ERN per troy ounce and 65,580 ERN per kilogram. Prices come from the global XAG/USD spot rate, converted into Eritrean Nakfa at Eritrea's parallel-market exchange rate.
How the silver price in ERN is calculated
Silver is quoted internationally in US dollars per troy ounce (XAG/USD). To express it in Eritrean Nakfa, we convert the spot price to a per-gram figure, apply the purity factor, and convert to ERN at Eritrea's parallel exchange rate — the rate at which dollars actually trade, rather than the lower official Bank of Eritrea rate.
Silver units and purities (gram, ounce, kilogram)
One troy ounce equals 31.1035 grams and one kilogram is 1,000 grams, so the per-ounce price is the per-gram price times 31.1035, and the per-kilo price is times 1,000. Purity is given in thousandths: 999 is fine (investment) silver, 925 is sterling, 900 and 800 are common in coins. A 925 piece is worth about 92.5% of the 999 price for the same weight.
Why silver prices follow the parallel market in Eritrea
Eritrea fixes the nakfa far above its street value, so the black-market dollar trades well beyond the official rate for those who can find it. Like gold, silver is a dollar-priced store of value, so its ERN price climbs as the parallel rate weakens. Tracking silver in Eritrean Nakfa gives a low-cost read on the same currency pressures that move gold and the street dollar.