15/01/2015: Removal of Minimum Exchange Rate
The Swiss National Bank unexpectedly abandoned the minimum exchange rate, causing the Swiss franc (CHF) to surge in value.
06/09/2011: Implementation of Minimum Exchange Rate
The Swiss National Bank imposed a minimum exchange rate pegging the Swiss franc (CHF) to the Euro to prevent excessive appreciation.
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.
13/09/1999: Introduction of Euro
Switzerland decided not to join the Eurozone and maintain the Swiss franc (CHF) as its official currency.
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.
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.
08/05/1973: Floatation of Swiss Franc
Switzerland abandoned the fixed exchange rate system, allowing the Swiss franc (CHF) to float freely against other currencies.
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.
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.
01/05/1936: Introduction of Swiss National Bank
The Swiss National Bank was established as the central bank responsible for issuing and managing the Swiss franc (CHF).
24/11/1907: Gold Standard Referendum
Switzerland voted to adopt the gold standard, making the Swiss franc (CHF) fully convertible into gold.
06/06/1850: Currency Act of 1850
The Swiss franc (CHF) was introduced as the official currency of Switzerland.