17/10/2019: Protests against economic crisis
Mass protests erupted in Lebanon due to economic crisis, leading to further depreciation of the Lebanese pound.
01/01/2017: Floating Exchange Rate Regime
Mongolia adopts a fully floating exchange rate regime for the Tugrik, allowing the currency's value to be determined by market forces without intervention from the central bank.
26/06/2009: Currency Redenomination
Mongolia redenominates its currency, replacing the old Tugrik banknotes with new ones at a ratio of 1 to 1000, in an effort to simplify transactions and reduce inflation.
03/11/1997: Revaluation of the Lebanese pound
The Lebanese pound was revalued at a rate of 1,500 LBP = 1 USD, ending the fixed exchange rate with the US dollar.
06/03/1993: Mongolia Joins IMF
Mongolia becomes a member of the International Monetary Fund (IMF), influencing monetary policies and further shaping the development of the Tugrik currency.
01/07/1992: Tugrik Exchange Rate Liberalization
Mongolia liberalizes the exchange rate of the Tugrik, allowing it to fluctuate based on market forces and paving the way for a more flexible currency system.
21/12/1991: Transition to Market Economy
Mongolia undergoes a transition from a centrally planned economy to a market economy, leading to major changes in the Tugrik currency system.
01/01/1986: Introduction of the parallel exchange market
The parallel exchange market was introduced in Lebanon, leading to a diverging exchange rate between the official and unofficial markets.
01/01/1976: Lebanese Civil War
The Lebanese Civil War began, causing significant economic instability and devaluation of the Lebanese pound.
01/01/1961: Pegged to the US dollar
The Lebanese pound was pegged to the US dollar at an exchange rate of 1 LBP = 1.5 USD.
04/07/1946: Mongolian People's Bank Established
The Mongolian People's Bank is established as the central bank of Mongolia, responsible for issuing and managing the Tugrik currency.
27/11/1941: Devaluation of the Lebanese pound
The Lebanese pound was devalued by 41.9% following the breakup of the French franc.
01/12/1925: Introduction of the Tugrik Currency
Mongolia officially introduces the Tugrik as its national currency, replacing the previous currency system.
01/10/1920: Lebanese pound introduced
The Lebanese pound was introduced at a fixed exchange rate of 1 pound = 20 French francs during the French mandate period.