22/02/2021: Kyat's Depreciation Challenges
The Burmese kyat faced significant depreciation and instability due to political turmoil and the military coup in Myanmar.
15/11/2018: New Currency Notes Introduced
Iceland released updated banknotes and coins featuring improved security measures and new designs, modernizing the Krona's physical appearance.
23/04/2015: Foreign Exchange Market Liberalization
Restrictions on foreign exchange were lifted, allowing a more liberalized foreign exchange market in Myanmar.
15/03/2015: Capital Controls Lifted
Iceland lifted its capital controls, implemented after the financial crisis, allowing for more flexible foreign exchange transactions.
02/04/2012: Managed Float Regime Implemented
The Burmese government adopted a managed float exchange rate regime, allowing the kyat to fluctuate based on market forces.
14/11/2010: IMF Loan Approved
Iceland secured a $2.1 billion loan from the International Monetary Fund, stabilizing the Krona and aiding economic recovery.
06/10/2008: Financial Crisis Begins
The collapse of Icelandic banks and subsequent financial crisis severely devalued the Krona, leading to economic turmoil.
01/04/1990: Foreign Exchange Certificates Introduced
Foreign Exchange Certificates (FECs) were introduced as a parallel currency to stabilize the economy and control the black market.
01/09/1987: Second Kyat Revalued
Due to hyperinflation, the Burmese kyat was again revalued, with 1 kyat replacing 10 new kyats.
05/03/1981: Stock Exchange Established
The Icelandic Stock Exchange was founded, promoting economic growth and affecting the Krona's value.
01/12/1964: Kyat Revalued
The Burmese kyat underwent a major revaluation, with 1 new kyat replacing 100 old kyats to combat inflation.
01/07/1952: Kyat Introduced
The Burmese kyat was first introduced as the official currency of Burma, replacing the Indian rupee at an exchange rate of 1 kyat = 1 rupee.
10/05/1940: Occupation of Iceland
Following the German occupation of Denmark, Iceland became occupied by British forces, impacting the currency's stability.
01/01/1922: Currency Board Established
The Icelandic Krona was introduced under the Danish Krone pegged to 1 Krone = 100 aurar.