18/01/2021: Suspension of Eco adoption
The Central Bank of the Comoros suspended the adoption of the Eco currency, retaining the Comorian Franc as the official currency.
23/03/2020: COVID-19 Pandemic Impact
The rand experienced significant volatility and depreciation as a result of the COVID-19 pandemic, affecting the country's economy and trade balance.
01/01/2019: Replacement of the Franc by the Eco
Comoros agreed to replace the Comorian Franc with the proposed Eco currency, along with other West African countries.
15/12/2008: Global Financial Crisis Impact
The rand plunged against major currencies due to the global financial crisis and concerns about South Africa's economic stability.
09/11/2001: Rand Weakens to Record Low
The rand weakened to an all-time low against the US dollar, due to global economic uncertainty and domestic political concerns.
01/07/1997: Revaluation of the Comorian Franc
The Comorian Franc was revalued at a ratio of 1 new Franc to 75 old Francs, reducing the value of the currency.
01/01/1995: Establishment of Reserve Bank Independence
The South African Reserve Bank gained independence, allowing it to have more control over monetary policy.
20/06/1994: Introduction of the New Comorian Franc
Comoros introduced a new series of banknotes and coins, replacing the old Comorian Franc.
27/04/1994: First Democratic Elections
The first democratic elections were held in South Africa, marking the end of apartheid and bringing political stability, positively affecting the rand's value.
01/08/1982: Currency Decimalization
The rand was decimalized, with 1 rand being equal to 100 cents.
01/01/1976: Establishment of the Central Bank of Comoros
The Central Bank of Comoros was established to manage the monetary policies and issue the Comorian Franc.
06/07/1975: Independence of Comoros
Comoros gained independence from France, but continued using the Comorian Franc as its currency.
14/09/1961: Introduction of the Rand
The South African rand was introduced as the official currency, replacing the South African pound.
01/01/1920: Introduction of the Comorian Franc
The Comorian Franc was introduced as the official currency of Comoros by the French colonial administration.