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.
20/03/2020: Impact of COVID-19 Pandemic
The outbreak of the COVID-19 pandemic resulted in a significant decline in oil prices, affecting Nigeria's economy and putting pressure on the Naira's exchange rate.
20/06/2016: Adoption of Flexible Exchange Rate Policy
The Central Bank of Nigeria adopted a flexible exchange rate policy, allowing the Naira to float freely against other currencies based on market forces.
19/09/2000: Referendum on Euro Membership
Danish voters rejected adopting the Euro in a referendum, maintaining the Krone as the national currency.
29/05/1999: Transition to Democratic Governance
Nigeria transitioned to democratic governance, leading to economic reforms and stability, positively affecting the value and management of the Naira 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.
12/06/1993: Introduction of the Third Nigerian Naira
The third Nigerian Naira (NGN) was introduced after the country's return to civilian rule following years of military regimes.
31/12/1984: Implementation of the Structural Adjustment Program
The Nigerian government implemented the Structural Adjustment Program, leading to a significant devaluation of the Naira and the adoption of a floating exchange rate.
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.
01/07/1979: Adoption of the Second Nigerian Naira
The second Nigerian Naira (NGN) was introduced following the adoption of a new constitution and the country's transition to civilian rule.
01/07/1973: Introduction of decimal currency
The Nigerian Naira was introduced as the official currency of Nigeria, replacing the pound sterling with a decimal currency system.
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.