28/07/2016: Bank of Japan announces stimulus package
The Bank of Japan announced an aggressive stimulus package and negative interest rates, causing the Yen to depreciate against major currencies.
11/03/2011: Great East Japan Earthquake
The Tohoku earthquake and tsunami devastated Japan, leading to a decline in the Yen as reconstruction efforts strained the economy.
15/09/2008: Lehman Brothers bankruptcy
The bankruptcy of Lehman Brothers triggered a global financial crisis, resulting in a surge in the value of the Yen as investors sought safe-haven assets.
15/10/2006: New series of banknotes
Costa Rica introduced a new series of banknotes featuring enhanced security features to combat counterfeiting and modernize the colón currency.
20/03/1995: Kobe earthquake
The Great Hanshin earthquake struck Kobe, causing significant damage to the Japanese economy and leading to a decline in the value of the Yen.
21/05/1991: Free-floating exchange rate
Costa Rica transitioned to a floating exchange rate regime, allowing the colón's value to be determined by market forces.
22/09/1985: Plaza Accord
Japan, along with major economies, agreed to depreciate the value of the US dollar, leading to the appreciation of the Yen.
01/03/1973: Yen becomes a floating currency
The Yen lost its fixed exchange rate and started floating against major currencies following the collapse of the Bretton Woods system.
09/11/1961: Introduction of the Monetary Reform
Costa Rica implemented a monetary reform, replacing the old colón with a new one at a rate of 1 to 100, to combat inflation.
15/12/1953: Yen is introduced
The Japanese Yen was first introduced as the official currency of Japan with the enactment of the Bank of Japan Act.
30/11/1949: Abolition of the army
After the abolition of the army, the Costa Rican government focused on economic development, leading to stable monetary policies for the colón.
14/12/1917: Establishment of the Central Bank of Costa Rica
The Central Bank of Costa Rica was established to oversee monetary policy, including the management of the colón.
09/04/1896: Adoption of the gold standard
Costa Rica adopted the gold standard, pegging the value of the colón to gold, leading to currency stability.
18/03/1850: Introduction of the Costa Rican colón
The Costa Rican colón was officially introduced as the currency of Costa Rica to replace the Spanish real.