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The local currency is the Eritrean Nakfa, made up of 100 cents. The exchange rate is reviewed daily and therefore varies. A declaration of foreign currency is not required on arrival.
The Commercial Bank of Eritrea, with its office located near the High Court (Asmara), provides exchange services for dollars in both cash and traveler’s cheques and gives a better rate than is to be found in hotels.
There are also private foreign currency exchange offices throughout the city. Although all currencies will be exchanged for Nakfa, the US dollar is for convenience preferable.