20/12/2019: Macao–Hong Kong Financial Cooperation Agreement signed
The Macau and Hong Kong authorities signed a financial cooperation agreement to strengthen monetary and financial stability, impacting the value and role of the Macanese pataca.
09/03/2012: Introduction of New Banknotes
Hungary introduced new banknotes with enhanced security features, aiming to combat counterfeiting and improve the forint's credibility.
23/10/2008: Global Financial Crisis
The global financial crisis had a significant impact on the Hungarian forint, resulting in a significant depreciation against major foreign currencies.
01/05/2004: Accession to the European Union
Hungary joined the European Union, bringing the forint closer to the eurozone and influencing its future trajectory as an EU currency.
28/02/2001: Currency Exchange Rate Stability
The Hungarian government adopted a policy of maintaining a stable exchange rate for the forint against the euro, contributing to the currency's stability.
08/05/1995: Currency board system implemented
Macau adopted a currency board system, establishing a fixed exchange rate between the Macanese pataca and the Hong Kong dollar.
16/06/1989: Transition to a Market Economy
Hungary implemented economic reforms, including the transition from a planned economy to a market economy, with significant impacts on the forint's value and exchange rate.
20/10/1977: Internationalization of the pataca
Macau allowed the international use and exchange of the Macanese pataca, strengthening its role as a stable and convertible currency.
08/06/1967: Link with Portuguese escudo reestablished
The Macanese pataca was once again pegged to the Portuguese escudo, ending the gold standard era.
20/08/1949: Forint becomes a planned economy currency
Hungary's currency, including the forint, became part of the planned socialist economy under the control of the Hungarian Workers' Party.
18/06/1948: Gold standard introduced
The Macanese pataca switched to the gold standard, with its value pegged to gold coins. The gold standard lasted until 1967.
03/08/1946: Introduction of the Forint
The forint was introduced as the official currency of Hungary, replacing the previous pengő, which had been severely devalued during World War II.
17/03/1906: Silver standard established
Macau adopted the silver standard for the pataca, linking its value to silver coins in circulation. This standard remained in place until 1948.
27/10/1901: Introduction of Macanese pataca
The Macanese pataca was first introduced as the official currency of Macau, replacing the Portuguese real. It was initially pegged to the Portuguese escudo.