26/06/2020: Currency peg under review
Barbados announced that it would review the decades-long currency peg of 2:1 with the US dollar, considering a shift to a floating exchange rate.
18/03/2020: COVID-19 pandemic impact
The Australian dollar experienced a sharp decline due to the global economic impact of the COVID-19 pandemic and uncertainty in financial markets.
05/08/2013: Devaluation of currency
Barbados devalued its currency by 10% to stimulate economic growth and competitiveness.
13/10/2011: Record high exchange rate
The Australian dollar reached a record high exchange rate of above $1.10 against the US dollar, driven by strong commodity demand and high interest rates.
06/10/2008: Global Financial Crisis
The Australian dollar experienced a significant decline due to the impact of the global financial crisis, reaching a low point of around $0.60 against the US dollar.
30/06/1996: Introduction of the polymer banknotes
Australia introduced polymer banknotes, replacing the paper-based banknotes, enhancing their durability and security features.
24/07/1995: New currency design
Barbados introduced a new design for its currency, featuring national symbols and landmarks.
08/03/1983: Floating of the Australian dollar
The Australian dollar was fully floated and allowed to fluctuate freely on the foreign exchange market, leading to increased volatility.
05/05/1975: Introduction of decimalization
Barbados introduced decimalization, dividing the Barbadian Dollar into 100 cents.
01/01/1973: Fixed exchange rate
Barbados fixed its currency exchange rate to the US dollar at a rate of 2 Barbadian Dollars to 1 US Dollar.
03/07/1972: Barbados gains independence
Barbados gained independence from British rule, leading to the establishment of the Central Bank of Barbados.
12/12/1971: End of the fixed exchange rate
Australia shifted from a fixed exchange rate to a flexible exchange rate, allowing market forces to determine the value of the Australian dollar.
13/02/1966: Decimalisation of the Australian currency
Australia adopted decimal currency, replacing the pound with the Australian dollar, symbol 'A$'.
01/10/1935: Introduction of Barbadian Dollar
The Barbadian Dollar was introduced as the official currency of Barbados, replacing the East Caribbean dollar.