14/09/2020: Centenary of the Quetzal
The Guatemalan Quetzal celebrated its centenary, marking 100 years as the national currency of Guatemala.
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.
30/05/2011: New banknotes
New banknotes were introduced to incorporate modern security features and commemorate the 20th anniversary of Quetzal's reintroduction.
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.
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.
09/02/1987: Quetzal devaluation
The Quetzal was devalued by 66% as part of an economic stabilization plan.
13/09/1967: Decree Law 17-67
Decree Law 17-67 was enacted, establishing a fixed exchange rate between the Quetzal and the US dollar.
08/04/1951: Monetary Reform
Guatemala underwent a monetary reform, with the introduction of the Quetzal as the sole currency.
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.
25/06/1946: The Quetzalé bill
The Quetzalé bill, equivalent to 1,000 Quetzales, was introduced to combat hyperinflation.
01/12/1925: Introduction of the Tugrik Currency
Mongolia officially introduces the Tugrik as its national currency, replacing the previous currency system.
22/06/1925: Introduction of the Quetzal
The Guatemalan Quetzal was introduced as the official currency, replacing the Guatemalan peso.