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.
20/09/2015: Discontinuation of the sucre electrónico
Due to various issues, the sucre electrónico was discontinued, and the US dollar remained as the sole official currency of Ecuador.
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.
30/11/2009: Introduction of the sucre electrónico
The sucre electrónico, a digital currency, was launched in an attempt to promote financial inclusion and reduce the country's reliance on US dollar.
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 $0.60 against the US dollar.
09/01/2000: Withdrawal of the Sucre from circulation
The sucre was completely withdrawn from circulation, and all transactions were required to be conducted in US dollars.
09/03/1999: Adoption of US dollar as official currency
Ecuador officially adopted the US dollar as its official currency, replacing the sucre nuevo.
30/06/1996: Introduction of the polymer banknotes
Australia introduced polymer banknotes, replacing the paper-based banknotes, enhancing their durability and security features.
08/03/1983: Floating of the Australian dollar
The Australian dollar was fully floated and allowed to fluctuate freely on the foreign exchange market, leading to increased volatility.
12/12/1971: End of the fixed exchange rate
Australia shifted from a fixed exchange rate to a flexible exchange rate, allowing market forces to determine the value of the Australian dollar.
13/02/1966: Decimalisation of the Australian currency
Australia adopted decimal currency, replacing the pound with the Australian dollar, symbol 'A$'.
08/12/1964: Introduction of the Sucre Nuevo
A new sucre, known as the sucre nuevo, was introduced to replace the original sucre at a rate of 1 sucre nuevo to 1,000 sucres.
08/07/1932: Creation of the Central Bank of Ecuador
The Central Bank of Ecuador was established with the aim of regulating the currency and monetary policy.
14/01/1884: Introduction of the Sucre
The sucre was introduced as the national currency of Ecuador at a rate of 5 sucres to 1 US dollar.