How to send money to Eritrea in 2026: in nakfa at a fixed rate, to family and for a business
In 2026 money reaches Eritrea by bank transfer and through the national money transfer service, and a recipient in Asmara gets it in nakfa at the fixed central bank rate of 15 per dollar. UN Security Council measures were lifted in 2018.
In short
- The central bank rate is fixed: 15 nakfa per dollar.
- UN Security Council measures were lifted on 14 November 2018.
- Incoming foreign currency is declared from $10,000.
- New nakfa banknotes since November 2015.
In detail
Can you send money to Eritrea now: checked on 9 October 2026
Yes: in 2026 money goes to Eritrea by bank transfer to an account in Asmara and through the national money transfer service, and the recipient receives it in nakfa. The rate is set by the central bank: 15 nakfa per dollar, and this rate is fixed. On 14 November 2018 the UN Security Council lifted all its measures concerning Eritrea, so a payment goes through as an ordinary international transfer with a check of the recipient and the purpose.
| Route | Now | Paid out in | Timing | What you need |
|---|---|---|---|---|
| Bank transfer to a nakfa account | works | nakfa at 15 per dollar | several business days | account number, the bank's international code, the recipient's name |
| National money transfer service | works | nakfa | several business days | the recipient's ID document |
| Transfer to a foreign currency account | works with the central bank's permission | US dollars | several business days | the permission and a foreign currency account at a bank in Eritrea |
Does the sender's bank not know how to make a payment to Asmara? There are usually more options than it seems: write to a manager about who you are sending money to and why, and they will choose a working route.
The UN decision was taken four months after the peace agreement between Eritrea and Ethiopia, signed in July 2018. Since then banks have checked payments to Asmara under the usual rules: the recipient's name, the purpose of the transfer and the origin of the money.
The nakfa at 15 per dollar: how much your family will receive
15 nakfa per dollar is the official rate, which the law on the Bank of Eritrea keeps fixed. Currency in the country is exchanged at a bank at this rate, so a transfer is easy to calculate: $500 gives the recipient 7,500 nakfa, and $1,000 gives 15,000 nakfa. Euros and other currencies are converted into nakfa through the dollar.
New nakfa banknotes have been in circulation since November 2015: the central bank replaced the old ones, and since then family money is more convenient to keep in a bank account. The recipient withdraws the sum as expenses arise at their branch, and the rest stays in the account. For relatives in Massawa, Keren or Mendefera the transfer is credited to an account at the bank branch in their town, and the recipient's name in the details is written the same way as in their ID document.
For the transfer to arrive on the right day and without being returned, we will suggest the best way to send money to Eritrea. About the capital, see the Asmara page.
We will help you send money to Eritrea
Mistakes cost more than fees: a transfer over $10,000 without a declaration of incoming foreign currency, a payment to a contractor without the contract in the purpose, sending in euros with an extra conversion through the dollar. We will help you avoid them: we will choose the route and timing, prepare documents on the origin of the money for the bank and carry the transfer through to crediting.
Details and the cost are with a manager in the chat: the price depends on the amount and purpose of the transfer.
Money for a house and a business in Eritrea: the $10,000 rule
$10,000 is the threshold from which incoming foreign currency from abroad is declared: this was set by a 2013 proclamation for investors among citizens abroad and for importers. Smaller sums for repairing a house, studies or starting a small business go through without a separate declaration, and for a larger sum the bank in Asmara files the declaration together with the transfer.
Holding and exchanging currency in Eritrea is possible with the central bank's permission, so a payment to a company or contractor goes to its bank account. Citizens of Eritrea living abroad pay 2% of their income to the budget through embassies, and the payment receipt is needed for consular services and for receiving land in the home country.
A construction or supply contract is attached to the payment, and the contract number is written in the payment purpose. If the sum is over $10,000, a manager will check the declaration procedure before the money is sent.
Documents for a bank in Eritrea: from family support to a large sum
- Up to $10,000. The recipient's name, account number and purpose: support for loved ones, medical treatment, studies, with no separate declaration.
- $10,000-$100,000. The sender's account statement, a contract and a declaration of incoming foreign currency, which the bank in Asmara accepts together with the transfer.
- From $100,000. The source of the money, the contract and the central bank's permission for currency settlements under the deal. Here a specialist will put together the documents with you.
Which papers about the money banks accept is covered in proof of source of funds, and money from a sold home in moving home sale proceeds abroad. If you are moving together with all your savings, see the capital relocation page.
Sending money to neighbouring countries
- How to send money to Ethiopia: Eritrea's southern neighbour
- How to send money to Djibouti: a franc pegged to the dollar
- How to send money to Egypt: north along the Red Sea
- How to send money to Saudi Arabia: on the other side of the sea
- How to send money to the UAE: the trading hub for the whole region
- How to send money to Sudan: inflation down to 26.1%
A plan for your capital when you move is on the capital relocation page.
FAQ
Can a transfer be received in Eritrea in dollars?
From what amount is money from abroad declared in Eritrea?
When did the UN Security Council lift its measures concerning Eritrea?
Since what year have new nakfa banknotes been in circulation in Eritrea?
We will suggest the best way to send your money
We will choose a transfer method for your amount and country, prepare the documents on the origin of the money for the bank, make the transfer through licensed partners and follow it until the money is credited. Ask your question in the chat - the manager will suggest the best terms and the cost. The legal side with banks and government bodies is handled by Murblz specialists and locally licensed partners.
Details and cost are with the manager in the chat. Describe your situation and we will reply right away.
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