18/03/2020: COVID-19 pandemic impact
The Australian dollar experienced a sharp decline due to the global economic impact of the COVID-19 pandemic and uncertainty in financial markets.
13/10/2011: Record high exchange rate
The Australian dollar reached a record high exchange rate of above $1.10 against the US dollar, driven by strong commodity demand and high interest rates.
06/10/2008: Global Financial Crisis
The Australian dollar experienced a significant decline due to the impact of the global financial crisis, reaching a low point of around $0.60 against the US dollar.
18/05/2005: Removal of Ten Hong Kong Dollars Note
The Hong Kong Monetary Authority announced the removal of the HKD 10 paper note from circulation, encouraging the usage of electronic payment methods and reducing printing costs.
01/07/1997: Hong Kong's Handover to China
Hong Kong was officially handed over to China, marking the end of British colonial rule but maintaining the Hong Kong Dollar as its currency under the 'one country, two systems' principle.
30/06/1996: Introduction of the polymer banknotes
Australia introduced polymer banknotes, replacing the paper-based banknotes, enhancing their durability and security features.
17/10/1991: Linked Exchange Rate System
The Linked Exchange Rate System (LERS) was implemented, establishing a narrow trading range of HKD 7.75 to 7.85 against the U.S. Dollar, backed by stringent measures to maintain stability.
31/12/1983: Joint Declaration on the Future of Hong Kong
The Sino-British Joint Declaration was signed, affirming Hong Kong's return to China in 1997 and ensuring the continuity of the Hong Kong Dollar as its official currency.
08/03/1983: Floating of the Australian dollar
The Australian dollar was fully floated and allowed to fluctuate freely on the foreign exchange market, leading to increased volatility.
22/05/1972: Pegging to the U.S. Dollar
As the British Pound faced pressures in the foreign exchange market, Hong Kong decided to switch the peg to the U.S. Dollar at a rate of HKD 5.65 to USD 1.
12/12/1971: End of the fixed exchange rate
Australia shifted from a fixed exchange rate to a flexible exchange rate, allowing market forces to determine the value of the Australian dollar.
13/02/1966: Decimalisation of the Australian currency
Australia adopted decimal currency, replacing the pound with the Australian dollar, symbol 'A$'.
12/09/1935: Pegging to the Sterling
The Hong Kong Dollar was pegged to the British Pound (Sterling) at a fixed exchange rate of HKD 16 to GBP 1, which helped stabilize the currency.
01/01/1863: Introduction of the Hong Kong Dollar
The Hong Kong Dollar was first introduced as an official currency by the British colonial government to facilitate trade and commerce in Hong Kong.