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.
16/07/2019: IMF Bailout Package
Pakistan reached an agreement with the IMF for a three-year, $6 billion bailout package to address its balance of payments crisis, affecting the value of the Pakistani rupee.
11/12/2013: IMF Loan Program
Pakistan signed a loan agreement with the International Monetary Fund (IMF) to stabilize its economy, resulting in devaluation of the Pakistani rupee.
01/12/2008: Global Financial Crisis
The global financial crisis led to a depreciation of the Pakistani rupee against major international currencies due to economic instability.
28/05/1999: Introduction of State Bank of Pakistan
The State Bank of Pakistan was given full autonomous control over the monetary policy, which had a significant impact on the value of the Pakistani rupee.
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.
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.
16/12/1971: Separation of East Pakistan
Following the separation of East Pakistan and the formation of Bangladesh, the Pakistani rupee underwent a major devaluation.
08/06/1967: Link with Portuguese escudo reestablished
The Macanese pataca was once again pegged to the Portuguese escudo, ending the gold standard era.
01/07/1955: Replacement of Indian Rupee
The Pakistani rupee replaced the Indian rupee as the official currency of Pakistan after the two countries separated.
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.
17/08/1947: Independence of Pakistan
The Pakistani rupee was introduced as the official currency of Pakistan after the country gained independence from British rule.
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.