23/03/2020: COVID-19 Pandemic Impact
The rand experienced significant volatility and depreciation as a result of the COVID-19 pandemic, affecting the country's economy and trade balance.
04/06/2018: Introduction of New Banknotes
Moldova introduced a new series of banknotes with enhanced security features to combat counterfeiting.
01/07/2015: Currency Pegged to Euro
Moldova pegged its currency, the Leu, to the Euro at a fixed exchange rate to stabilize the economy and attract foreign investment.
10/05/2010: Euro as Legal Tender
Moldova adopted the Euro as its official currency, though it is not a member of the Eurozone.
29/04/2009: Revaluation
Moldova carried out a currency revaluation, changing the exchange rate from 10,000 old Lei to 1 new Leu.
15/12/2008: Global Financial Crisis Impact
The rand plunged against major currencies due to the global financial crisis and concerns about South Africa's economic stability.
09/11/2001: Rand Weakens to Record Low
The rand weakened to an all-time low against the US dollar, due to global economic uncertainty and domestic political concerns.
29/10/1999: Introduction of Polymer Banknotes
Polymer banknotes were introduced in Moldova, increasing security and durability of the currency.
01/01/1995: Establishment of Reserve Bank Independence
The South African Reserve Bank gained independence, allowing it to have more control over monetary policy.
29/05/1994: Redenomination
Moldova underwent a redenomination process, where 1000 old Lei were exchanged for 1 new Leu to combat hyperinflation.
27/04/1994: First Democratic Elections
The first democratic elections were held in South Africa, marking the end of apartheid and bringing political stability, positively affecting the rand's value.
26/11/1992: Declaration of Independence
The Moldovan Leu was introduced as the official currency of Moldova after the country declared independence from the Soviet Union.
01/08/1982: Currency Decimalization
The rand was decimalized, with 1 rand being equal to 100 cents.
14/09/1961: Introduction of the Rand
The South African rand was introduced as the official currency, replacing the South African pound.