22/04/2020: COVID-19 Impact
The COVID-19 pandemic caused disruptions in the Cambodian economy, leading to a decline in the value of the Riel.
27/10/2008: Global Financial Crisis
The Korean Won faced significant volatility during the global financial crisis, as global markets tumbled and investor confidence wavered.
04/01/2001: Riel Redenomination
The Cambodian government redenominated the Riel by removing four zeros, making it easier for transactions.
01/01/1998: Establishment of IMF Program
South Korea agreed to an International Monetary Fund (IMF) bailout package, which stabilized the value of the Korean Won and initiated economic reforms.
03/12/1997: Asian Financial Crisis
The Korean Won experienced a sharp depreciation during the Asian Financial Crisis, causing severe economic hardships and requiring international assistance.
20/03/1995: Dollarization
Cambodia officially adopted a dual currency system, allowing the use of both Riel and the United States Dollar.
20/03/1994: Currency Stabilization
Cambodia implemented a new currency stabilization plan to control hyperinflation and stabilize the Riel.
27/02/1980: Declaration of Martial Law
Amidst political turmoil, President Chun Doo-hwan declared martial law, causing economic instability and impacting the value of the Korean Won.
07/01/1979: Liberation of Cambodia
Vietnamese forces liberated Cambodia from the Khmer Rouge, leading to the reestablishment of the Riel.
17/04/1975: Khmer Rouge Regime
The Khmer Rouge regime took control of Cambodia, resulting in the abolition of currency and economic collapse.
22/06/1962: Introduction of the Hwan
To combat inflation, the South Korean government introduced the Hwan as the new currency, replacing the old Korean Won.
27/07/1953: Armistice Agreement
Following the Korean War, the Armistice Agreement was signed, stabilizing the region and aiding in the recovery of the Korean Won.
11/07/1951: Introduction of the Riel
The Riel was established as the official currency of Cambodia, replacing the French Indochinese Piastre.
15/08/1945: Liberation from Japanese Rule
Upon the end of Japanese colonial rule, the Korean Won was introduced as the official currency of South Korea.