16/07/2019: IMF Bailout Package
Pakistan reached an agreement with the IMF for a three-year, $6 billion bailout package to address its balance of payments crisis, affecting the value of the Pakistani rupee.
11/12/2013: IMF Loan Program
Pakistan signed a loan agreement with the International Monetary Fund (IMF) to stabilize its economy, resulting in devaluation of the Pakistani rupee.
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.
01/12/2008: Global Financial Crisis
The global financial crisis led to a depreciation of the Pakistani rupee against major international currencies due to economic instability.
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.
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.
28/05/1999: Introduction of State Bank of Pakistan
The State Bank of Pakistan was given full autonomous control over the monetary policy, which had a significant impact on the value of the Pakistani 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.
16/12/1971: Separation of East Pakistan
Following the separation of East Pakistan and the formation of Bangladesh, the Pakistani rupee underwent a major devaluation.
01/07/1955: Replacement of Indian Rupee
The Pakistani rupee replaced the Indian rupee as the official currency of Pakistan after the two countries separated.
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.
17/08/1947: Independence of Pakistan
The Pakistani rupee was introduced as the official currency of Pakistan after the country gained independence from British rule.
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.