03/11/2020: Economic Impact of COVID-19
The COVID-19 pandemic caused economic disruptions globally, affecting the Egyptian Pound's exchange rate and foreign reserves.
20/05/2007: Kuwaiti Dinar Redenominated
The Kuwaiti Dinar underwent a redenomination, with the introduction of new banknotes and removal of three zeros from the currency.
20/03/2003: US Invasion of Iraq
The United States and its allies invaded Iraq, leading to a period of uncertainty and affecting the value of the Kuwaiti Dinar.
14/11/1999: Liberalization of Exchange Rate
The Egyptian government implemented a managed float exchange rate system, allowing the Pound to fluctuate based on market forces.
25/03/1991: Kuwait Liberated
Coalition forces led by the United States liberated Kuwait from Iraqi occupation, restoring stability to the country and its currency.
02/08/1990: Iraqi Invasion of Kuwait
Iraqi forces invaded Kuwait, leading to the Gulf War and causing a significant decline in the value of the Kuwaiti Dinar.
12/08/1987: Introduction of New Egyptian Pound
A new Egyptian Pound banknote was introduced to combat counterfeiting and improve security features.
16/09/1980: Iraq-Iran War Begins
The Iraq-Iran War started, leading to economic instability in the region and affecting the value of the Kuwaiti Dinar.
20/10/1975: Kuwait Dinar Pegged to Special Drawing Rights (SDR)
Kuwait pegged its currency to a basket of international currencies known as Special Drawing Rights (SDR) instead of the US Dollar.
14/09/1962: Devaluation of the Pound
The Egyptian government devalued the Pound by 55%, leading to a significant decrease in its value.
02/01/1961: Kuwaiti Dinar Introduced
The Kuwaiti Dinar (KWD) was officially introduced as the currency of Kuwait, replacing the Gulf Rupee.
23/07/1952: Overthrow of the Monarchy
The Egyptian monarchy was overthrown, leading to political and economic changes that affected the value of the Egyptian Pound.
02/05/1885: Establishment of Central Bank of Egypt
The Central Bank of Egypt was established to regulate the currency and banking system in Egypt.
29/07/1834: Introduction of Egyptian Pound
The Egyptian Pound was introduced as the official currency of Egypt, replacing the piastre.