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.
17/06/2018: Introduction of New Banknotes
A new series of UAE dirham banknotes, featuring enhanced durability, 3D security features, and tactile marks for visually impaired individuals, is introduced.
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 $0.60 against the US dollar.
01/01/2007: Security Enhancements
New security features, including holograms and advanced anti-counterfeiting measures, are added to the UAE dirham banknotes.
01/12/2002: Introduction of Modern Coinage
A new series of UAE dirham coins, featuring modern designs and security features, is introduced.
30/06/1996: Introduction of the polymer banknotes
Australia introduced polymer banknotes, replacing the paper-based banknotes, enhancing their durability and security features.
20/03/1995: Currency Peg to US Dollar
The UAE dirham is pegged to the United States dollar at a fixed exchange rate of 1 USD to 3.6725 AED.
08/03/1983: Floating of the Australian dollar
The Australian dollar was fully floated and allowed to fluctuate freely on the foreign exchange market, leading to increased volatility.
01/01/1978: Currency Issuance Authority
The UAE Currency Issuing Authority is established, granting the authority to issue and manage the UAE dirham.
28/01/1973: Decoupling from Pound Sterling
The UAE dirham is officially decoupled from the British pound sterling and a new exchange rate is set.
12/12/1971: End of the fixed exchange rate
Australia shifted from a fixed exchange rate to a flexible exchange rate, allowing market forces to determine the value of the Australian dollar.
02/12/1971: Formation of UAE
The United Arab Emirates is formed, resulting in the introduction of the UAE dirham as its official currency.
13/02/1966: Decimalisation of the Australian currency
Australia adopted decimal currency, replacing the pound with the Australian dollar, symbol 'A$'.