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.
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.
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.
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.
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.
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.
01/01/1999: Introduction of the Euro
The Euro was officially introduced as an electronic currency for banking and financial transactions.
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.
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.
01/08/1982: Currency Decimalization
The rand was decimalized, with 1 rand being equal to 100 cents.
14/09/1961: Introduction of the Rand
The South African rand was introduced as the official currency, replacing the South African pound.