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.
30/10/2016: Withdrawal of the 1000-krone banknote
The Norges Bank phased out the 1000-krone banknote, as part of efforts to combat money laundering and reduce the use of cash in the economy.
12/08/2015: Ringgit Depreciation
The Malaysian ringgit experienced a significant depreciation against major currencies due to falling oil prices and global economic uncertainties.
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.
01/01/1999: Creation of the euro
Several European countries introduced the euro as a common currency, but Norway chose to maintain the krone, cementing its separate monetary path.
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.
19/11/1992: Norway rejects European Union membership
In a referendum, Norway voted against joining the European Union, reaffirming its independent monetary policy and keeping the krone outside the eurozone.
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.
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.
22/10/1931: Devaluation of the krone
To counter the effects of the Great Depression, Norway devalued the krone by 14%, aiming to boost exports and stimulate the economy.
01/11/1920: Krone's return to the gold standard
Following the end of World War I, Norway reintroduced the gold standard for the krone, stabilizing its value and restoring confidence in the currency.
02/08/1914: Suspension of krone's gold standard
Due to the outbreak of World War I, Norway suspended the krone's convertibility into gold, allowing for more flexibility in monetary policy during the war.
27/10/1875: The introduction of the krone currency
The krone was established as the official currency of Norway, replacing the previous speciedaler, marking a significant milestone in the country's monetary history.