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.
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.
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.
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.
29/09/1977: Decimals Introduced
Chile replaced the escudo with the decimal centavo as the subunit of the peso, simplifying its monetary system.
29/09/1975: Floating Exchange Rate
Chile moved from a fixed to a floating exchange rate system, allowing the peso to be determined by market forces.
02/01/1958: Introduction of Escudo as Subunit
The subunit of 1/100 peso, called the escudo, was introduced to facilitate smaller transactions in Chile.
31/12/1925: Creation of the Central Bank of Chile
The Central Bank of Chile was established, gaining authority over the country's currency issuance and monetary policy.
25/06/1895: Gold Standard Adoption
Chile adopted the gold standard, tying the value of the Chilean Peso to the price of gold and stabilizing its currency.
15/06/1851: First Peso Coinage
The first official peso coins were introduced by the Chilean government, replacing the Spanish colonial currency.
12/02/1817: Chilean Independence
Chile gained independence from Spain, leading to the establishment of the Chilean Peso as its official currency.