26/06/2020: Currency peg under review
Barbados announced that it would review the decades-long currency peg of 2:1 with the US dollar, considering a shift to a floating exchange rate.
20/03/2020: COVID-19 Pandemic Effects
The outbreak of the COVID-19 pandemic causes global economic turmoil, leading to volatility in the New Zealand dollar exchange rate and GDP contraction.
05/08/2013: Devaluation of currency
Barbados devalued its currency by 10% to stimulate economic growth and competitiveness.
10/10/2008: Global Financial Crisis Hits New Zealand
New Zealand experiences the impact of the global financial crisis, leading to a sharp depreciation of the New Zealand dollar and economic slowdown.
10/07/2005: Polymer Banknotes Introduced
New Zealand introduces polymer banknotes, replacing the traditional paper notes for increased durability and security.
24/07/1995: New currency design
Barbados introduced a new design for its currency, featuring national symbols and landmarks.
05/10/1987: Black Monday Stock Market Crash
Global stock market crash leads to a significant devaluation of the New Zealand dollar and a deep recession in the country.
04/03/1985: Floating Exchange Rate Introduced
New Zealand dollar is allowed to float freely against other currencies, marking the end of fixed exchange rates.
05/05/1975: Introduction of decimalization
Barbados introduced decimalization, dividing the Barbadian Dollar into 100 cents.
01/01/1973: Fixed exchange rate
Barbados fixed its currency exchange rate to the US dollar at a rate of 2 Barbadian Dollars to 1 US Dollar.
03/07/1972: Barbados gains independence
Barbados gained independence from British rule, leading to the establishment of the Central Bank of Barbados.
10/07/1961: Decimalization of Currency
New Zealand adopts the decimal currency system, replacing the pound with the New Zealand dollar. NZ$1 is equivalent to NZ£2.
01/10/1935: Introduction of Barbadian Dollar
The Barbadian Dollar was introduced as the official currency of Barbados, replacing the East Caribbean dollar.
19/10/1933: New Zealand Pound Pegged to the British Pound
New Zealand pound is pegged to the British pound at a rate of £1 to NZ£0.624275.