23/03/2020: COVID-19 Pandemic Impact
The rand experienced significant volatility and depreciation as a result of the COVID-19 pandemic, affecting the country's economy and trade balance.
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.
15/12/2008: Global Financial Crisis Impact
The rand plunged against major currencies due to the global financial crisis and concerns about South Africa's economic stability.
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.
09/11/2001: Rand Weakens to Record Low
The rand weakened to an all-time low against the US dollar, due to global economic uncertainty and domestic political concerns.
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.
01/01/1995: Establishment of Reserve Bank Independence
The South African Reserve Bank gained independence, allowing it to have more control over monetary policy.
27/04/1994: First Democratic Elections
The first democratic elections were held in South Africa, marking the end of apartheid and bringing political stability, positively affecting the rand's value.
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.
01/08/1982: Currency Decimalization
The rand was decimalized, with 1 rand being equal to 100 cents.
14/09/1961: Introduction of the Rand
The South African rand was introduced as the official currency, replacing the South African pound.
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.
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.