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.
15/01/2019: Introduction of New Banknotes
New series of banknotes with enhanced security features and improved designs were introduced by the Maldives Monetary Authority.
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.
01/09/2014: Introduction of Polymer Banknotes
Polymer banknotes were introduced in the Maldives, replacing the traditional paper banknotes, enhancing their durability and security features.
01/07/2011: Redenomination of the Rufiyaa
The Maldivian Rufiyaa underwent redenomination, with new banknotes and coins introduced to simplify transactions and reduce the number of zeros.
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.
01/01/2002: Decimalization of the Rufiyaa
The Maldivian Rufiyaa was decimalized, with 100 laari equaling 1 Rufiyaa, replacing the previous system of 1 Rufiyaa equalling 100 lari.
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.
01/09/1983: Introduction of the Maldivian Rufiyaa
The Maldivian Rufiyaa was introduced as the new currency, replacing the Maldivian Rupee at a 1:1 exchange rate.
01/09/1981: Establishment of the Maldives Monetary Authority
The Maldives Monetary Authority (MMA) was established as the central bank of the Maldives, responsible for issuing and managing the currency.
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.
22/10/1947: Introduction of the Maldivian Rupee
The Maldivian Indian Rupee was adopted as the official currency of the Maldives, replacing the Ceylonese Rupee.
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.
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.