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.
29/12/2014: 1 US Dollar = 3.891 Israeli Sheqel
The Israeli Sheqel (ILS) reaches a historical low against the US Dollar in the foreign exchange market.
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.
04/05/2008: Introduction of New Banknotes
New Israeli Sheqel (ILS) banknotes with enhanced security features were issued.
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.
01/09/1999: Introduction of Sheqel Coins
Israeli Sheqel (ILS) coins were introduced, replacing the agora as the subunit of the currency.
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.
24/02/1985: Hyperinflation Crisis
Israel experiences hyperinflation, leading to the introduction of the new Israeli Sheqel (ILS).
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.
16/03/1960: Introduction of the New Sheqel
The old Israeli pound (ILP) was replaced by the new Israeli Sheqel (ILS) as the official currency.
24/02/1949: Introduction of the Israel Pound
The Israeli pound (ILP) was introduced as legal tender in Israel.
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.
24/09/1948: Israeli Declaration of Independence
The Israeli pound (ILP) was introduced as the official currency of Israel.