29/11/2015: Inclusion of the Renminbi in IMF's SDR Basket
The International Monetary Fund (IMF) includes the Renminbi in its Special Drawing Rights (SDR) basket, recognizing its global importance as a reserve currency and boosting the international status of the Chinese Yuan Renminbi.
13/07/2015: Greek debt bailout agreement
A third bailout deal was reached between Greece and its creditors, avoiding a potential Greek exit from the Eurozone.
02/05/2010: Greek debt crisis
Greece's financial crisis threatened the stability of the Eurozone, requiring massive bailout packages to prevent a default.
18/06/2009: Resumption of Renminbi Appreciation
China allows the Renminbi to resume an appreciation trajectory against the US dollar after a period of stability, signaling a shift in the country's exchange rate policy.
15/10/2008: Global financial crisis
The Euro faced significant economic challenges following the collapse of Lehman Brothers, leading to a recession in many Eurozone countries.
20/07/2005: Introduction of Managed Float
China adopts a managed floating exchange rate system, allowing the Renminbi to fluctuate within a narrow band against a basket of currencies, reducing its dependence on the US dollar.
01/05/2004: Eurozone expansion
10 more countries joined the Eurozone, bringing the total number of participating countries to 24.
01/01/2002: Euro banknotes and coins
Physical banknotes and coins in Euro were introduced, replacing national currencies in 12 European countries.
01/01/1999: Introduction of the Euro
The Euro was officially introduced as an electronic currency for banking and financial transactions.
31/12/1993: Renminbi Pegged to US Dollar
China pegs the value of the Renminbi to the US dollar, setting an exchange rate of 8.28 Yuan per dollar, which remains fixed for over a decade, impacting China's export competitiveness.
31/12/1992: Introduction of Dual Currency System
China introduces a dual currency system, with the offshore Renminbi (CNH) and the onshore Renminbi (CNY), aiming to facilitate foreign exchange flows and international trade.
07/02/1992: The Maastricht Treaty
The treaty was signed, which officially established the European Union and laid the groundwork for the creation of the Euro.
14/08/1971: End of the Bretton Woods System
The United States suspends the convertibility of the US dollar to gold, leading to the collapse of the Bretton Woods System and a shift towards floating exchange rates, affecting the value of the Chinese Yuan Renminbi.
14/12/1948: Formation of the People's Bank of China
The People's Bank of China was established, marking the beginning of central banking in China and the introduction of the Chinese Yuan Renminbi as the official currency.