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.
23/06/2016: Brexit Referendum
The United Kingdom voted to leave the European Union, causing significant uncertainty and volatility in the pound sterling's value.
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 $0.60 against the US dollar.
31/12/1999: Establishment of the Euro
The euro was introduced as an electronic currency, paving the way for the eventual replacement of some national currencies, including the pound.
30/06/1996: Introduction of the polymer banknotes
Australia introduced polymer banknotes, replacing the paper-based banknotes, enhancing their durability and security features.
16/09/1992: Black Wednesday
The pound sterling experienced a severe drop in value and the UK was forced to withdraw from the European Exchange Rate Mechanism (ERM).
08/03/1983: Floating of the Australian dollar
The Australian dollar was fully floated and allowed to fluctuate freely on the foreign exchange market, leading to increased volatility.
12/12/1971: End of the fixed exchange rate
Australia shifted from a fixed exchange rate to a flexible exchange rate, allowing market forces to determine the value of the Australian dollar.
14/02/1971: Decimalization of the Pound
The pound sterling was decimalized, with the old system of pounds, shillings and pence replaced by a decimal currency.
13/02/1966: Decimalisation of the Australian currency
Australia adopted decimal currency, replacing the pound with the Australian dollar, symbol 'A$'.
06/12/1921: Currency Separation with Ireland
Following the Anglo-Irish Treaty, Ireland left the United Kingdom and established its own currency, leading to separate pound sterling notes.
21/12/1816: Gold Standard Introduced
The pound sterling was officially placed on the gold standard, meaning it was backed by a fixed amount of gold.
27/07/1694: Bank of England Established
The Bank of England was founded and granted a royal charter, becoming the central bank of England.