31/12/2020: Digital Currency Pilot
Azerbaijan launched a pilot program to test the use of a digital currency, the digital manat, in an effort to modernize its financial system.
01/01/2019: Switch to the Bermuda dollar symbol
Bermuda officially adopted a new currency symbol for the Bermudian dollar, replacing the British pound sign used previously.
20/12/2017: Second Devaluation
The manat faced another devaluation, this time by around 30%, due to economic challenges and a sharp drop in oil prices.
20/12/2015: Devaluation
The manat was devalued by more than 30% against the US dollar in response to falling oil prices.
16/03/2015: Redesign of banknotes
The Bermuda Monetary Authority unveiled a redesigned series of banknotes featuring enhanced security features and updated designs.
01/05/2012: Introduction of polymer banknotes
Bermuda introduced polymer banknotes to replace paper currency for better durability and security.
20/02/2005: Pegged to US Dollar
The Azerbaijani manat was pegged to the US dollar at a rate of 1.6 manat per dollar.
14/06/2001: Currency Reform
A currency reform was implemented, resulting in a new manat with a higher exchange rate.
01/01/1997: Incorporation into Federal Reserve System
The US Federal Reserve System incorporated the Bermuda Monetary Authority into its banking system.
31/12/1993: Hyperinflation
Azerbaijan experienced a period of hyperinflation, leading to the devaluation of the manat.
14/08/1992: Introduction of Manat
The Azerbaijani manat currency was introduced as the official currency of Azerbaijan, replacing the Soviet ruble.
06/01/1982: New notes and coins
Bermuda issued new notes and coins, featuring iconic local sights, to commemorate its 375th anniversary.
25/02/1972: Introduction of decimal coins
Bermuda introduced a decimal currency system, replacing the old pounds, shillings, and pence.
06/07/1970: Currency Board Agreement
Bermuda established a Currency Board System, pegging the Bermudian dollar at par with the US dollar.