23/06/2016: Brexit Referendum
The United Kingdom voted to leave the European Union, causing significant uncertainty and volatility in the pound sterling's value.
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.
31/12/1999: Establishment of the Euro
The euro was introduced as an electronic currency, paving the way for the eventual replacement of some national currencies, including the pound.
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.
16/09/1992: Black Wednesday
The pound sterling experienced a severe drop in value and the UK was forced to withdraw from the European Exchange Rate Mechanism (ERM).
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.
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.
14/02/1971: Decimalization of the Pound
The pound sterling was decimalized, with the old system of pounds, shillings and pence replaced by a decimal currency.
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.
06/12/1921: Currency Separation with Ireland
Following the Anglo-Irish Treaty, Ireland left the United Kingdom and established its own currency, leading to separate pound sterling notes.
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.
21/12/1816: Gold Standard Introduced
The pound sterling was officially placed on the gold standard, meaning it was backed by a fixed amount of gold.
27/07/1694: Bank of England Established
The Bank of England was founded and granted a royal charter, becoming the central bank of England.