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.
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.
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.
11/09/1970: Introduction of the New Peso
The New Central Bank Act is enacted, leading to the introduction of a new currency called the New Peso, with a conversion rate of 1 New Peso to 2 old pesos.
04/07/1949: Central Bank of the Philippines
The Central Bank of the Philippines is established with the task of issuing and managing the Philippine currency.
20/10/1944: Introduction of the Philippine Liberation Peso
The United States-issued Philippine Liberation Peso is introduced to replace the Japanese-issued currency, serving as a transitional currency.
02/01/1942: Japanese Occupation
During World War II, the Japanese forces occupy the Philippines and introduce the Japanese-issued Philippine peso, known as Mickey Mouse money.
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.
24/12/1933: Introduction of the Commonwealth Peso
The Commonwealth Act No. 265 is passed, creating a new Philippine currency called the Commonwealth Peso to replace the previous Peso.
12/06/1898: Philippine Independence
The Philippines declares independence from Spanish rule, leading to the establishment of the First Philippine Republic and the issuance of new currency.
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.
01/05/1852: Introduction of the Peso
The Spanish colonial government issues the first official currency of the Philippines, known as the Peso, with a conversion rate of 2 Spanish reales to 1 Peso.