31/12/2020: Digital Currency Pilot
Azerbaijan launched a pilot program to test the use of a digital currency, the digital manat, in an effort to modernize its financial system.
04/06/2020: Exchange rate stabilization
Efforts were made to stabilize the exchange rate of the Djiboutian franc to reduce inflation and encourage economic growth.
20/12/2017: Second Devaluation
The manat faced another devaluation, this time by around 30%, due to economic challenges and a sharp drop in oil prices.
20/12/2015: Devaluation
The manat was devalued by more than 30% against the US dollar in response to falling oil prices.
01/09/2013: Replacement of coins with bi-metallic coins
Coins of lower denominations of the Djiboutian franc were replaced with bi-metallic coins.
20/02/2005: Pegged to US Dollar
The Azerbaijani manat was pegged to the US dollar at a rate of 1.6 manat per dollar.
01/01/2002: Introduction of new banknotes
New banknotes of the Djiboutian franc were introduced with enhanced security features.
14/06/2001: Currency Reform
A currency reform was implemented, resulting in a new manat with a higher exchange rate.
15/09/1997: Second devaluation
The Djiboutian franc was devalued by 33% as a result of economic instability and high inflation.
31/12/1993: Hyperinflation
Azerbaijan experienced a period of hyperinflation, leading to the devaluation of the manat.
14/08/1992: Introduction of Manat
The Azerbaijani manat currency was introduced as the official currency of Azerbaijan, replacing the Soviet ruble.
08/05/1977: First devaluation
The Djiboutian franc was devalued by 50% due to economic difficulties faced by the newly independent country.
27/06/1973: Independence from France
Djibouti gained independence from France and the Djiboutian franc became the national currency.
01/01/1949: Introduction of the Djiboutian franc
The Djiboutian franc was introduced as the official currency of French Somaliland, replacing the French franc at a 1:1 exchange rate.