18/03/2020: COVID-19 Pandemic Impact
The COVID-19 pandemic caused a sharp decline in the value of the ringgit, as global markets experienced volatility and economic slowdown.
16/09/2019: Ghana Goes Cashless
The government launched the Ghana.Gov payment platform, aimed at promoting electronic payments and reducing cash transactions.
12/08/2015: Ringgit Depreciation
The Malaysian ringgit experienced a significant depreciation against major currencies due to falling oil prices and global economic uncertainties.
05/07/2012: GHS Symbol Change
The Bank of Ghana introduced a new currency symbol for the cedi, changing it from GHȼ to GHS.
03/07/2007: Decimals Dropped
The Bank of Ghana dropped four decimal places, making 1 new Ghanaian cedi = 1 GHȼ.
21/07/2005: Removal of Currency Peg
The Malaysian government removed the fixed exchange rate peg to the US dollar, allowing the ringgit to float freely based on market forces.
01/07/2002: Replacement of New Cedi
The new Ghanaian cedi, denoted as GHC, replaced the second cedi at a rate of 1 cedi = 10,000 cedis.
02/07/1997: Asian Financial Crisis
The Malaysian ringgit was heavily affected by the Asian financial crisis, leading to a currency devaluation and introduction of capital controls.
12/06/1985: Currency Pegged to the US Dollar
The Malaysian ringgit was pegged to the US dollar at a fixed exchange rate of RM2.50 per USD to stabilize the economy.
17/07/1978: Second Cedi Introduced
Due to high inflation, the second Ghanaian cedi was introduced with a new currency code, GHS.
29/08/1975: Change to Malaysian Ringgit
The Malaysian dollar was renamed as the Malaysian ringgit, with the currency symbol RM, to reflect the country's independence and identity.
12/06/1967: Introduction of the Malaysian Dollar
The Malaysian dollar was introduced as the official currency of Malaysia, replacing the Malaya and British Borneo dollar.
19/07/1965: Cedi Introduced
The Ghanaian pound was replaced by the Ghanaian cedi at a rate of 1 pound = 2.4 cedis, symbolizing economic independence.
06/03/1957: Ghana's Independence
Ghana gained independence from British colonial rule, leading to the introduction of the Ghanaian pound as its currency.