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.
15/08/2018: Elections and Political Uncertainty
The Real experienced significant volatility leading up to the Presidential elections, responding to political developments and market sentiment.
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.
22/01/2015: Real Hits 10-Year Low
The Real reached its lowest level against the US dollar in a decade, primarily due to a decline in commodity prices and economic concerns.
15/09/2008: Global Financial Crisis Impact
As a consequence of the global financial crisis, the Brazilian Real faced a sharp depreciation against major currencies due to capital outflows and risk aversion.
27/07/2005: New Currency Symbol
The Central Bank of Brazil announced a public competition to select a new currency symbol, which resulted in the adoption of the official symbol for the Real.
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.
18/06/2002: Exchange Rate Floatation
The Brazilian government allowed the Real to float freely against other currencies, abandoning the controlled exchange rate regime.
14/06/2001: Currency Reform
A currency reform was implemented, resulting in a new manat with a higher exchange rate.
15/01/1999: Devaluation of the Real
Due to the Russian financial crisis and the Asian financial crisis, the government devalued the Real by around 8% to boost exports and stimulate the economy.
01/07/1994: Introduction of the Real Plan
The Brazilian real was established as the official currency, replacing the hyperinflation-ridden Cruzeiro Real. It aimed to stabilize the economy and combat inflation.
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.