24/03/2020: COVID-19 Impact on Indian Rupee
The global COVID-19 pandemic caused significant volatility in the Indian Rupee exchange rate, leading to depreciation against major international currencies.
08/11/2016: Demonetization
The Indian government announced the demonetization of ₹500 and ₹1,000 banknotes, requiring individuals to exchange or deposit their old currency notes at banks.
09/03/2012: Introduction of New Banknotes
Hungary introduced new banknotes with enhanced security features, aiming to combat counterfeiting and improve the forint's credibility.
23/10/2008: Global Financial Crisis
The global financial crisis had a significant impact on the Hungarian forint, resulting in a significant depreciation against major foreign currencies.
03/07/2007: Indian Rupee Symbol
The Indian Rupee was given its own unique symbol ₹, representing the integration of the Indian Rupee into the global currency landscape.
01/05/2004: Accession to the European Union
Hungary joined the European Union, bringing the forint closer to the eurozone and influencing its future trajectory as an EU currency.
28/02/2001: Currency Exchange Rate Stability
The Hungarian government adopted a policy of maintaining a stable exchange rate for the forint against the euro, contributing to the currency's stability.
21/06/1991: Liberalization of Indian Economy
India initiated economic reforms, including the liberalization of foreign exchange controls. This led to the beginning of the exchange rate regime reforms for the Indian Rupee.
16/06/1989: Transition to a Market Economy
Hungary implemented economic reforms, including the transition from a planned economy to a market economy, with significant impacts on the forint's value and exchange rate.
24/06/1957: Decimalization of Indian Rupee
The Indian Rupee was decimalized, dividing it into 100 paise. This change simplified the currency system and introduced a uniform monetary system across the country.
20/08/1949: Forint becomes a planned economy currency
Hungary's currency, including the forint, became part of the planned socialist economy under the control of the Hungarian Workers' Party.
15/08/1947: Indian Independence
India gained independence from British rule, leading to the establishment of the Reserve Bank of India as the central bank and the Indian Rupee as the official currency.
03/08/1946: Introduction of the Forint
The forint was introduced as the official currency of Hungary, replacing the previous pengő, which had been severely devalued during World War II.
01/01/1862: Introduction of Indian Rupee
Indian Rupee was introduced by the British government as the official currency of British India. It replaced various local and foreign currencies that were in circulation.