01/10/2022: Transition to digital currency
Gibraltar announced the introduction of a digital currency pegged 1:1 to the Gibraltar pound, making it one of the first jurisdictions to do so.
15/08/2019: Commencement of polymer £50 issuance
Polymer £50 banknotes were introduced, replacing the older paper £50 notes.
26/06/2018: New £100 banknote issued
A new £100 banknote featuring the image of Sir Joshua Hassan, first Chief Minister of Gibraltar, was issued.
29/11/2015: Inclusion of the Renminbi in IMF's SDR Basket
The International Monetary Fund (IMF) includes the Renminbi in its Special Drawing Rights (SDR) basket, recognizing its global importance as a reserve currency and boosting the international status of the Chinese Yuan Renminbi.
18/06/2009: Resumption of Renminbi Appreciation
China allows the Renminbi to resume an appreciation trajectory against the US dollar after a period of stability, signaling a shift in the country's exchange rate policy.
20/07/2005: Introduction of Managed Float
China adopts a managed floating exchange rate system, allowing the Renminbi to fluctuate within a narrow band against a basket of currencies, reducing its dependence on the US dollar.
31/12/1993: Renminbi Pegged to US Dollar
China pegs the value of the Renminbi to the US dollar, setting an exchange rate of 8.28 Yuan per dollar, which remains fixed for over a decade, impacting China's export competitiveness.
31/12/1992: Introduction of Dual Currency System
China introduces a dual currency system, with the offshore Renminbi (CNH) and the onshore Renminbi (CNY), aiming to facilitate foreign exchange flows and international trade.
06/11/1988: Introduction of polymer banknotes
Polymer banknotes were introduced in Gibraltar, enhancing durability and counterfeit resilience.
14/08/1971: End of the Bretton Woods System
The United States suspends the convertibility of the US dollar to gold, leading to the collapse of the Bretton Woods System and a shift towards floating exchange rates, affecting the value of the Chinese Yuan Renminbi.
15/02/1971: Currency tied to British pound
The Gibraltar pound became pegged to the British pound at a rate of 1:1, ensuring stability and ease of trade.
23/06/1969: Currency switch to decimalization
Gibraltar switched from the pound shilling pence system to a decimalized currency, with 100 pence equal to 1 pound.
14/12/1948: Formation of the People's Bank of China
The People's Bank of China was established, marking the beginning of central banking in China and the introduction of the Chinese Yuan Renminbi as the official currency.
07/03/1927: Introduction of Gibraltar pound
The Gibraltar pound was first introduced as the official currency of Gibraltar, replacing the Spanish peseta.