04/02/2021: Ending of Intervention Policy
Denmark's central bank announced the end of its long-standing policy of defending the Krone's peg to the Euro.
13/05/2020: Introduction of New Thousand Kwacha Banknotes
Malawi introduced new banknotes with higher denominations to address issues of inflation and to streamline transactions in a cash-based economy.
01/05/2016: Currency Floatation
The Malawian government allowed the kwacha to float freely against other currencies, leading to a significant depreciation of the currency.
07/08/2012: Introduction of New Kwacha Coins
Malawi introduced new coins to replace smaller denominations of the kwacha banknotes, facilitating transactions and reducing the cost of producing money.
19/09/2000: Referendum on Euro Membership
Danish voters rejected adopting the Euro in a referendum, maintaining the Krone as the national currency.
10/04/2000: Introduction of New Kwacha Banknotes
Malawi introduced new banknotes with enhanced security features to combat counterfeiting and to modernize the currency.
31/12/1998: Euro peg
Denmark joined the European Exchange Rate Mechanism (ERM II), pegging the Krone to the Euro with a narrow fluctuation band.
14/06/1994: Malawi's First Multiparty Democratic Elections
Malawi held its first multiparty democratic elections, leading to a political and economic transition which affected the value of the kwacha.
24/03/1982: Floating Exchange Rate
Denmark switched to a floating exchange rate regime, allowing the Krone's value to be determined by market forces.
01/09/1979: First Devaluation of the Kwacha
The Malawian government devalued the kwacha by 30% in response to economic challenges and to promote exports.
06/07/1971: Introduction of the Malawian Kwacha
The Malawian Kwacha (MWK) was introduced as the official currency of Malawi, replacing the Malawian pound at a rate of 2 kwacha = 1 pound.
21/07/1944: Bretton Woods Agreement
Denmark became a member of the International Monetary Fund (IMF) and agreed to the Bretton Woods system, pegging the Krone to the US dollar.
10/09/1927: Return to Gold Standard
Denmark abandoned the gold standard due to economic pressures and public debt.
31/12/1872: Pegging to Gold Standard
The Danish Krone was pegged to the gold standard, fixing its value in relation to gold.