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.
02/05/2016: Introduction of the new Lesotho loti coins
New coins with updated designs and improved durability were introduced to replace the older ones and ensure efficient circulation of the Lesotho loti currency.
16/10/2012: Issuance of commemorative banknotes
Commemorative banknotes were issued on the occasion of Lesotho's 46th Independence Day, celebrating the country's cultural heritage and achievements.
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.
02/06/2008: Establishment of the Lesotho Electronic Funds Transfer System
The Lesotho Electronic Funds Transfer System (LETS) was established, enabling secure and efficient electronic transactions, including online banking and interbank transfers.
10/07/2005: Polymer Banknotes Introduced
New Zealand introduces polymer banknotes, replacing the traditional paper notes for increased durability and security.
21/02/2000: Launch of the Lesotho national payment system
The Lesotho national payment system was launched, facilitating seamless electronic funds transfer and promoting financial inclusivity in the country.
25/09/1998: Introduction of the new Lesotho loti banknotes
New banknotes featuring enhanced security features and updated designs were introduced to combat counterfeiting and improve the integrity of the currency.
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.
20/01/1986: Adoption of the Central Bank of Lesotho Act
The Central Bank of Lesotho Act was adopted, providing the legal framework for the regulation and control of the Lesotho loti and monetary policy.
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.
01/10/1980: Introduction of the Lesotho loti
The Lesotho loti was introduced as the official currency of Lesotho to replace the South African rand and establish monetary independence.
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.
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.