02/12/2016: Peace Agreement Impact
After the signing of the peace agreement with FARC, the Colombian Peso strengthened and saw improvements in the economy.
27/10/2008: Global Financial Crisis
The Korean Won faced significant volatility during the global financial crisis, as global markets tumbled and investor confidence wavered.
24/07/2001: Exchange rate flexibility
Colombia allowed the Colombian Peso to have a flexible exchange rate, transitioning from a fixed exchange rate system.
21/10/1999: Colombia's Financial Crisis
Colombia faced a financial crisis resulting in a devaluation of the Peso and an economic recession.
01/01/1998: Establishment of IMF Program
South Korea agreed to an International Monetary Fund (IMF) bailout package, which stabilized the value of the Korean Won and initiated economic reforms.
03/12/1997: Asian Financial Crisis
The Korean Won experienced a sharp depreciation during the Asian Financial Crisis, causing severe economic hardships and requiring international assistance.
04/07/1991: Introduction of a New Peso
A new Peso was introduced with a higher value, replacing the old Peso due to high inflation.
27/02/1980: Declaration of Martial Law
Amidst political turmoil, President Chun Doo-hwan declared martial law, causing economic instability and impacting the value of the Korean Won.
22/06/1962: Introduction of the Hwan
To combat inflation, the South Korean government introduced the Hwan as the new currency, replacing the old Korean Won.
27/07/1953: Armistice Agreement
Following the Korean War, the Armistice Agreement was signed, stabilizing the region and aiding in the recovery of the Korean Won.
12/06/1953: Creation of Banco de la República
The central bank of Colombia, Banco de la República, was established to regulate and control the Colombian Peso.
15/08/1945: Liberation from Japanese Rule
Upon the end of Japanese colonial rule, the Korean Won was introduced as the official currency of South Korea.
31/07/1886: Adoption of the Gold Standard
Colombia adopted the gold standard, linking the value of the Peso to gold, stabilizing the currency.
27/05/1837: Introduction of the Peso
The Colombian Peso was introduced as the official currency of Colombia, replacing the Spanish real.