20/03/2020: COVID-19 Pandemic Effects
The outbreak of the COVID-19 pandemic causes global economic turmoil, leading to volatility in the New Zealand dollar exchange rate and GDP contraction.
28/07/2016: Bank of Japan announces stimulus package
The Bank of Japan announced an aggressive stimulus package and negative interest rates, causing the Yen to depreciate against major currencies.
11/03/2011: Great East Japan Earthquake
The Tohoku earthquake and tsunami devastated Japan, leading to a decline in the Yen as reconstruction efforts strained the economy.
10/10/2008: Global Financial Crisis Hits New Zealand
New Zealand experiences the impact of the global financial crisis, leading to a sharp depreciation of the New Zealand dollar and economic slowdown.
15/09/2008: Lehman Brothers bankruptcy
The bankruptcy of Lehman Brothers triggered a global financial crisis, resulting in a surge in the value of the Yen as investors sought safe-haven assets.
10/07/2005: Polymer Banknotes Introduced
New Zealand introduces polymer banknotes, replacing the traditional paper notes for increased durability and security.
20/03/1995: Kobe earthquake
The Great Hanshin earthquake struck Kobe, causing significant damage to the Japanese economy and leading to a decline in the value of the Yen.
05/10/1987: Black Monday Stock Market Crash
Global stock market crash leads to a significant devaluation of the New Zealand dollar and a deep recession in the country.
22/09/1985: Plaza Accord
Japan, along with major economies, agreed to depreciate the value of the US dollar, leading to the appreciation of the Yen.
04/03/1985: Floating Exchange Rate Introduced
New Zealand dollar is allowed to float freely against other currencies, marking the end of fixed exchange rates.
01/03/1973: Yen becomes a floating currency
The Yen lost its fixed exchange rate and started floating against major currencies following the collapse of the Bretton Woods system.
10/07/1961: Decimalization of Currency
New Zealand adopts the decimal currency system, replacing the pound with the New Zealand dollar. NZ$1 is equivalent to NZ£2.
15/12/1953: Yen is introduced
The Japanese Yen was first introduced as the official currency of Japan with the enactment of the Bank of Japan Act.
19/10/1933: New Zealand Pound Pegged to the British Pound
New Zealand pound is pegged to the British pound at a rate of £1 to NZ£0.624275.