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.
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.
01/01/2005: New Taiwan dollar banknotes issued
New designs for Taiwan dollar banknotes are issued, featuring innovative security features and updated aesthetics to combat counterfeiting and improve the currency's image.
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.
30/04/1991: Foreign Exchange Control Act revised
Taiwan relaxes its foreign exchange controls, allowing more flexibility in the trading of the Taiwan dollar and promoting financial globalization.
15/07/1987: Lifting of martial law
The martial law, which had been in place in Taiwan since 1949, is lifted, marking a significant milestone towards the democratization and liberalization of the country.
16/12/1971: Taiwan's expulsion from the UN
The United Nations General Assembly recognizes the People's Republic of China as the legitimate representative of China, leading to Taiwan's expulsion from the UN and international isolation.
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.
03/03/1952: TWD pegged to the US Dollar
The Taiwan dollar is pegged to the US Dollar at a fixed exchange rate of 32 TWD to 1 USD, stabilizing its value and promoting economic growth.
10/12/1949: Chinese Civil War ends
The Chinese Communist Party establishes the People's Republic of China on the mainland, leading to the Nationalist government's retreat to Taiwan, taking the Taiwan dollar with them.
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.
25/10/1945: Taiwan is restored to the Republic of China
After the end of World War II, Taiwan is returned to the Republic of China from Japan, and the Taiwan dollar becomes 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.