01/07/2020: Euro as legal tender
North Macedonia officially adopted the Euro as its currency, replacing the Macedonian Denar for all monetary transactions.
23/03/2020: COVID-19 Pandemic Impact
The rand experienced significant volatility and depreciation as a result of the COVID-19 pandemic, affecting the country's economy and trade balance.
15/05/2018: Denar's symbol adoption
The official symbol for the Macedonian Denar (den) was adopted, representing the currency in both domestic and international transactions.
15/12/2008: Global Financial Crisis Impact
The rand plunged against major currencies due to the global financial crisis and concerns about South Africa's economic stability.
10/10/2005: Denar's full Euro peg
The Macedonian Denar was fully pegged to the Euro at a fixed exchange rate of 61.5 Denars to 1 Euro.
29/04/2003: Replacement of banknotes
New series of banknotes with enhanced security features were introduced, replacing the older versions.
09/11/2001: Rand Weakens to Record Low
The rand weakened to an all-time low against the US dollar, due to global economic uncertainty and domestic political concerns.
05/11/2001: Denar's devaluation
Due to the political crisis in Macedonia, the Denar underwent a significant devaluation, losing around 40% of its value against the Euro.
15/05/1995: Denar's peg to the German Mark
The Macedonian Denar was pegged to the German Mark at a rate of 1 Denar to 1.5 Deutsche Mark, establishing a stable exchange rate.
01/01/1995: Establishment of Reserve Bank Independence
The South African Reserve Bank gained independence, allowing it to have more control over monetary policy.
27/04/1994: First Democratic Elections
The first democratic elections were held in South Africa, marking the end of apartheid and bringing political stability, positively affecting the rand's value.
26/11/1992: Introduction of the Macedonian Denar
The Macedonian Denar was introduced as the official currency of the Republic of Macedonia following its declaration of independence from Yugoslavia.
01/08/1982: Currency Decimalization
The rand was decimalized, with 1 rand being equal to 100 cents.
14/09/1961: Introduction of the Rand
The South African rand was introduced as the official currency, replacing the South African pound.