20/03/2020: Impact of COVID-19 Pandemic
The outbreak of the COVID-19 pandemic resulted in a significant decline in oil prices, affecting Nigeria's economy and putting pressure on the Naira's exchange rate.
01/01/2020: Transition to Polymer Banknotes
Polymer banknotes were introduced in Guyana, enhancing the durability and security features of the Guyanese dollar.
20/06/2016: Adoption of Flexible Exchange Rate Policy
The Central Bank of Nigeria adopted a flexible exchange rate policy, allowing the Naira to float freely against other currencies based on market forces.
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.
29/05/1999: Transition to Democratic Governance
Nigeria transitioned to democratic governance, leading to economic reforms and stability, positively affecting the value and management of the Naira currency.
12/06/1993: Introduction of the Third Nigerian Naira
The third Nigerian Naira (NGN) was introduced after the country's return to civilian rule following years of military regimes.
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.
31/12/1984: Implementation of the Structural Adjustment Program
The Nigerian government implemented the Structural Adjustment Program, leading to a significant devaluation of the Naira and the adoption of a floating exchange rate.
01/07/1979: Adoption of the Second Nigerian Naira
The second Nigerian Naira (NGN) was introduced following the adoption of a new constitution and the country's transition to civilian rule.
01/07/1973: Introduction of decimal currency
The Nigerian Naira was introduced as the official currency of Nigeria, replacing the pound sterling with a decimal currency system.
26/05/1966: Independence of Guyana
Following Guyana's independence from Britain, the currency was renamed from British Guiana dollar to Guyanese dollar.
12/09/1951: Currency Board Established
A Currency Board was established to manage the British Guiana dollar, ensuring its stability and convertibility.
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.