01/01/2023: Planned Fourth Redenomination of Ariary
Madagascar announces plans for the fourth redenomination of the Ariary, aiming to simplify the currency system further.
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.
01/01/2017: Third Redenomination of Ariary
The Malagasy Ariary experiences its third redenomination, resulting in the currency being divided by 5, making 1 new Ariary equal to 5 old Ariary.
01/08/2003: Second Redenomination of Ariary
The Malagasy Ariary goes through its second redenomination, with 1 new Ariary equal to 5 old Ariary.
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.
16/12/1993: First Redenomination of Ariary
The Malagasy Ariary undergoes its first redenomination, replacing the currency at a ratio of 1 new Ariary to 5 old Ariary.
01/01/1983: Introduction of Malagasy Ariary
The Malagasy Ariary is introduced as the new official currency of Madagascar, replacing the Malagasy Franc.
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.
26/06/1975: Independence of Madagascar
Madagascar declares independence from French colonial rule, leading to changes in the national 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.
26/06/1961: Introduction of Malagasy Franc
Malagasy Franc introduced as the official currency of Madagascar to replace the French Franc.
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.
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.