15/11/2018: New Currency Notes Introduced
Iceland released updated banknotes and coins featuring improved security measures and new designs, modernizing the Krona's physical appearance.
01/01/2017: Floating Exchange Rate Regime
Mongolia adopts a fully floating exchange rate regime for the Tugrik, allowing the currency's value to be determined by market forces without intervention from the central bank.
15/03/2015: Capital Controls Lifted
Iceland lifted its capital controls, implemented after the financial crisis, allowing for more flexible foreign exchange transactions.
14/11/2010: IMF Loan Approved
Iceland secured a $2.1 billion loan from the International Monetary Fund, stabilizing the Krona and aiding economic recovery.
26/06/2009: Currency Redenomination
Mongolia redenominates its currency, replacing the old Tugrik banknotes with new ones at a ratio of 1 to 1000, in an effort to simplify transactions and reduce inflation.
06/10/2008: Financial Crisis Begins
The collapse of Icelandic banks and subsequent financial crisis severely devalued the Krona, leading to economic turmoil.
06/03/1993: Mongolia Joins IMF
Mongolia becomes a member of the International Monetary Fund (IMF), influencing monetary policies and further shaping the development of the Tugrik currency.
01/07/1992: Tugrik Exchange Rate Liberalization
Mongolia liberalizes the exchange rate of the Tugrik, allowing it to fluctuate based on market forces and paving the way for a more flexible currency system.
21/12/1991: Transition to Market Economy
Mongolia undergoes a transition from a centrally planned economy to a market economy, leading to major changes in the Tugrik currency system.
05/03/1981: Stock Exchange Established
The Icelandic Stock Exchange was founded, promoting economic growth and affecting the Krona's value.
04/07/1946: Mongolian People's Bank Established
The Mongolian People's Bank is established as the central bank of Mongolia, responsible for issuing and managing the Tugrik currency.
10/05/1940: Occupation of Iceland
Following the German occupation of Denmark, Iceland became occupied by British forces, impacting the currency's stability.
01/12/1925: Introduction of the Tugrik Currency
Mongolia officially introduces the Tugrik as its national currency, replacing the previous currency system.
01/01/1922: Currency Board Established
The Icelandic Krona was introduced under the Danish Krone pegged to 1 Krone = 100 aurar.