01/01/2017: Floating Exchange Rate Regime
Mongolia adopts a fully floating exchange rate regime for the Tugrik, allowing the currency's value to be determined by market forces without intervention from the central bank.
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.
26/06/2009: Currency Redenomination
Mongolia redenominates its currency, replacing the old Tugrik banknotes with new ones at a ratio of 1 to 1000, in an effort to simplify transactions and reduce inflation.
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.
06/03/1993: Mongolia Joins IMF
Mongolia becomes a member of the International Monetary Fund (IMF), influencing monetary policies and further shaping the development of the Tugrik currency.
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).
01/07/1992: Tugrik Exchange Rate Liberalization
Mongolia liberalizes the exchange rate of the Tugrik, allowing it to fluctuate based on market forces and paving the way for a more flexible currency system.
21/12/1991: Transition to Market Economy
Mongolia undergoes a transition from a centrally planned economy to a market economy, leading to major changes in the Tugrik currency system.
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.
04/07/1946: Mongolian People's Bank Established
The Mongolian People's Bank is established as the central bank of Mongolia, responsible for issuing and managing the Tugrik currency.
01/12/1925: Introduction of the Tugrik Currency
Mongolia officially introduces the Tugrik as its national currency, replacing the previous currency system.
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.