24/03/2020: COVID-19 Impact on Indian Rupee
The global COVID-19 pandemic caused significant volatility in the Indian Rupee exchange rate, leading to depreciation against major international currencies.
08/11/2016: Demonetization
The Indian government announced the demonetization of ₹500 and ₹1,000 banknotes, requiring individuals to exchange or deposit their old currency notes at banks.
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.
03/07/2007: Indian Rupee Symbol
The Indian Rupee was given its own unique symbol ₹, representing the integration of the Indian Rupee into the global currency landscape.
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.
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).
21/06/1991: Liberalization of Indian Economy
India initiated economic reforms, including the liberalization of foreign exchange controls. This led to the beginning of the exchange rate regime reforms for the Indian Rupee.
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.
24/06/1957: Decimalization of Indian Rupee
The Indian Rupee was decimalized, dividing it into 100 paise. This change simplified the currency system and introduced a uniform monetary system across the country.
15/08/1947: Indian Independence
India gained independence from British rule, leading to the establishment of the Reserve Bank of India as the central bank and the Indian Rupee as the official currency.
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.
01/01/1862: Introduction of Indian Rupee
Indian Rupee was introduced by the British government as the official currency of British India. It replaced various local and foreign currencies that were in circulation.
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.