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.
30/06/2015: Demonetization of old Guinean franc banknotes
The old series of Guinean franc banknotes, denominated in 'Syli,' ceased to be legal tender, and only the new franc banknotes remained in circulation.
26/09/2012: Introduction of new Guinean franc coins
New coins denominated in the Guinean franc were introduced, replacing the previously used Guinean syli coins.
30/06/2010: Revaluation of the Guinean franc
The Guinean franc underwent a revaluation, with 1 new franc being equivalent to 10,000 old francs.
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.
30/06/1997: Introduction of new Guinean franc
A new series of Guinean franc banknotes, denominated in 'Syli,' was introduced as a replacement for the previous currency.
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.
30/11/1985: Devaluation of the Guinean franc
The Guinean franc was devalued by 50%, leading to an economic crisis and high inflation.
01/08/1982: Currency Decimalization
The rand was decimalized, with 1 rand being equal to 100 cents.
31/05/1971: Redenomination of the Guinean franc
The Guinean franc underwent a redenomination, with 1 new franc being equivalent to 10 old francs.
14/09/1961: Introduction of the Rand
The South African rand was introduced as the official currency, replacing the South African pound.
01/10/1959: Introduction of Guinean franc
The Guinean franc was introduced as the official currency of Guinea following its independence from France.