24/06/2020: Rwandan Franc Devaluation
The central bank of Rwanda announced a gradual devaluation of the Rwandan franc to enhance export competitiveness and stimulate economic growth.
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.
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.
03/12/2008: New Currency Series
A new series of Rwandan franc banknotes was introduced, featuring updated security features and designs.
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 $0.60 against the US dollar.
01/01/2004: East African Community
Rwanda joined the East African Community, leading to increased economic integration and cooperation within the region.
03/12/1998: Currency Redenomination
The Rwandan franc underwent a redenomination, with 100 old francs being replaced by 1 new franc.
30/06/1996: Introduction of the polymer banknotes
Australia introduced polymer banknotes, replacing the paper-based banknotes, enhancing their durability and security features.
07/04/1995: Rwandan Genocide
The Rwandan Genocide began, causing economic instability and inflation for the Rwandan franc.
08/03/1983: Floating of the Australian dollar
The Australian dollar was fully floated and allowed to fluctuate freely on the foreign exchange market, leading to increased volatility.
01/12/1973: Currency Reform
A currency reform was implemented, introducing a new series of Rwandan franc banknotes.
12/12/1971: End of the fixed exchange rate
Australia shifted from a fixed exchange rate to a flexible exchange rate, allowing market forces to determine the value of the Australian dollar.
13/02/1966: Decimalisation of the Australian currency
Australia adopted decimal currency, replacing the pound with the Australian dollar, symbol 'A$'.
25/06/1964: Introduction of the Rwandan Franc
The Rwandan franc was introduced as the official currency of Rwanda, replacing the East African shilling.