18/03/2020: COVID-19 Pandemic Impact
The COVID-19 pandemic caused a sharp decline in the value of the ringgit, as global markets experienced volatility and economic slowdown.
01/01/2017: Floating Exchange Rate Regime
Mongolia adopts a fully floating exchange rate regime for the Tugrik, allowing the currency's value to be determined by market forces without intervention from the central bank.
12/08/2015: Ringgit Depreciation
The Malaysian ringgit experienced a significant depreciation against major currencies due to falling oil prices and global economic uncertainties.
26/06/2009: Currency Redenomination
Mongolia redenominates its currency, replacing the old Tugrik banknotes with new ones at a ratio of 1 to 1000, in an effort to simplify transactions and reduce inflation.
21/07/2005: Removal of Currency Peg
The Malaysian government removed the fixed exchange rate peg to the US dollar, allowing the ringgit to float freely based on market forces.
02/07/1997: Asian Financial Crisis
The Malaysian ringgit was heavily affected by the Asian financial crisis, leading to a currency devaluation and introduction of capital controls.
06/03/1993: Mongolia Joins IMF
Mongolia becomes a member of the International Monetary Fund (IMF), influencing monetary policies and further shaping the development of the Tugrik currency.
01/07/1992: Tugrik Exchange Rate Liberalization
Mongolia liberalizes the exchange rate of the Tugrik, allowing it to fluctuate based on market forces and paving the way for a more flexible currency system.
21/12/1991: Transition to Market Economy
Mongolia undergoes a transition from a centrally planned economy to a market economy, leading to major changes in the Tugrik currency system.
12/06/1985: Currency Pegged to the US Dollar
The Malaysian ringgit was pegged to the US dollar at a fixed exchange rate of RM2.50 per USD to stabilize the economy.
29/08/1975: Change to Malaysian Ringgit
The Malaysian dollar was renamed as the Malaysian ringgit, with the currency symbol RM, to reflect the country's independence and identity.
12/06/1967: Introduction of the Malaysian Dollar
The Malaysian dollar was introduced as the official currency of Malaysia, replacing the Malaya and British Borneo dollar.
04/07/1946: Mongolian People's Bank Established
The Mongolian People's Bank is established as the central bank of Mongolia, responsible for issuing and managing the Tugrik currency.
01/12/1925: Introduction of the Tugrik Currency
Mongolia officially introduces the Tugrik as its national currency, replacing the previous currency system.