01/01/2020: Transition to Polymer Banknotes
Polymer banknotes were introduced in Guyana, enhancing the durability and security features of the Guyanese dollar.
27/10/2008: Global Financial Crisis
The Korean Won faced significant volatility during the global financial crisis, as global markets tumbled and investor confidence wavered.
03/02/2003: Redenomination of the Currency
The Guyanese dollar underwent a redenomination, with old banknotes replaced by new notes at a rate of 1,000 old dollars to 1 new dollar.
01/01/1998: Establishment of IMF Program
South Korea agreed to an International Monetary Fund (IMF) bailout package, which stabilized the value of the Korean Won and initiated economic reforms.
03/12/1997: Asian Financial Crisis
The Korean Won experienced a sharp depreciation during the Asian Financial Crisis, causing severe economic hardships and requiring international assistance.
05/10/1992: Resumption of Banking System
The resumption of the banking system in Guyana significantly improved the stability and accessibility of the Guyanese dollar.
27/02/1980: Declaration of Martial Law
Amidst political turmoil, President Chun Doo-hwan declared martial law, causing economic instability and impacting the value of the Korean Won.
26/05/1966: Independence of Guyana
Following Guyana's independence from Britain, the currency was renamed from British Guiana dollar to Guyanese dollar.
22/06/1962: Introduction of the Hwan
To combat inflation, the South Korean government introduced the Hwan as the new currency, replacing the old Korean Won.
27/07/1953: Armistice Agreement
Following the Korean War, the Armistice Agreement was signed, stabilizing the region and aiding in the recovery of the Korean Won.
12/09/1951: Currency Board Established
A Currency Board was established to manage the British Guiana dollar, ensuring its stability and convertibility.
15/08/1945: Liberation from Japanese Rule
Upon the end of Japanese colonial rule, the Korean Won was introduced as the official currency of South Korea.
06/08/1917: Currency Act of 1917
The British Guiana dollar was revalued at a rate of 4.80 dollars to 1 U.S. dollar, following the Currency Act of 1917.
18/01/1839: Introduction of the British Guiana dollar
British Guiana dollar introduced as the official currency of British Guiana, replacing the Spanish and Portuguese coins previously in circulation.