03/11/2020: Economic Impact of COVID-19
The COVID-19 pandemic caused economic disruptions globally, affecting the Egyptian Pound's exchange rate and foreign reserves.
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.
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.
14/11/1999: Liberalization of Exchange Rate
The Egyptian government implemented a managed float exchange rate system, allowing the Pound to fluctuate based on market forces.
01/01/1995: Establishment of Reserve Bank Independence
The South African Reserve Bank gained independence, allowing it to have more control over monetary policy.
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.
12/08/1987: Introduction of New Egyptian Pound
A new Egyptian Pound banknote was introduced to combat counterfeiting and improve security features.
01/08/1982: Currency Decimalization
The rand was decimalized, with 1 rand being equal to 100 cents.
14/09/1962: Devaluation of the Pound
The Egyptian government devalued the Pound by 55%, leading to a significant decrease in its value.
14/09/1961: Introduction of the Rand
The South African rand was introduced as the official currency, replacing the South African pound.
23/07/1952: Overthrow of the Monarchy
The Egyptian monarchy was overthrown, leading to political and economic changes that affected the value of the Egyptian Pound.
02/05/1885: Establishment of Central Bank of Egypt
The Central Bank of Egypt was established to regulate the currency and banking system in Egypt.
29/07/1834: Introduction of Egyptian Pound
The Egyptian Pound was introduced as the official currency of Egypt, replacing the piastre.