03/11/2020: Economic Impact of COVID-19
The COVID-19 pandemic caused economic disruptions globally, affecting the Egyptian Pound's exchange rate and foreign reserves.
18/05/2005: Removal of Ten Hong Kong Dollars Note
The Hong Kong Monetary Authority announced the removal of the HKD 10 paper note from circulation, encouraging the usage of electronic payment methods and reducing printing costs.
14/11/1999: Liberalization of Exchange Rate
The Egyptian government implemented a managed float exchange rate system, allowing the Pound to fluctuate based on market forces.
01/07/1997: Hong Kong's Handover to China
Hong Kong was officially handed over to China, marking the end of British colonial rule but maintaining the Hong Kong Dollar as its currency under the 'one country, two systems' principle.
17/10/1991: Linked Exchange Rate System
The Linked Exchange Rate System (LERS) was implemented, establishing a narrow trading range of HKD 7.75 to 7.85 against the U.S. Dollar, backed by stringent measures to maintain stability.
12/08/1987: Introduction of New Egyptian Pound
A new Egyptian Pound banknote was introduced to combat counterfeiting and improve security features.
31/12/1983: Joint Declaration on the Future of Hong Kong
The Sino-British Joint Declaration was signed, affirming Hong Kong's return to China in 1997 and ensuring the continuity of the Hong Kong Dollar as its official currency.
22/05/1972: Pegging to the U.S. Dollar
As the British Pound faced pressures in the foreign exchange market, Hong Kong decided to switch the peg to the U.S. Dollar at a rate of HKD 5.65 to USD 1.
14/09/1962: Devaluation of the Pound
The Egyptian government devalued the Pound by 55%, leading to a significant decrease in its value.
23/07/1952: Overthrow of the Monarchy
The Egyptian monarchy was overthrown, leading to political and economic changes that affected the value of the Egyptian Pound.
12/09/1935: Pegging to the Sterling
The Hong Kong Dollar was pegged to the British Pound (Sterling) at a fixed exchange rate of HKD 16 to GBP 1, which helped stabilize the currency.
02/05/1885: Establishment of Central Bank of Egypt
The Central Bank of Egypt was established to regulate the currency and banking system in Egypt.
01/01/1863: Introduction of the Hong Kong Dollar
The Hong Kong Dollar was first introduced as an official currency by the British colonial government to facilitate trade and commerce in Hong Kong.
29/07/1834: Introduction of Egyptian Pound
The Egyptian Pound was introduced as the official currency of Egypt, replacing the piastre.