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.
20/12/2019: Macao–Hong Kong Financial Cooperation Agreement signed
The Macau and Hong Kong authorities signed a financial cooperation agreement to strengthen monetary and financial stability, impacting the value and role of the Macanese pataca.
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.
08/05/1995: Currency board system implemented
Macau adopted a currency board system, establishing a fixed exchange rate between the Macanese pataca and the Hong Kong dollar.
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.
20/10/1977: Internationalization of the pataca
Macau allowed the international use and exchange of the Macanese pataca, strengthening its role as a stable and convertible currency.
08/06/1967: Link with Portuguese escudo reestablished
The Macanese pataca was once again pegged to the Portuguese escudo, ending the gold standard era.
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.
18/06/1948: Gold standard introduced
The Macanese pataca switched to the gold standard, with its value pegged to gold coins. The gold standard lasted until 1967.
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.
17/03/1906: Silver standard established
Macau adopted the silver standard for the pataca, linking its value to silver coins in circulation. This standard remained in place until 1948.
27/10/1901: Introduction of Macanese pataca
The Macanese pataca was first introduced as the official currency of Macau, replacing the Portuguese real. It was initially pegged to the Portuguese escudo.
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.