20/03/2020: Impact of COVID-19 Pandemic
The outbreak of the COVID-19 pandemic resulted in a significant decline in oil prices, affecting Nigeria's economy and putting pressure on the Naira's exchange rate.
20/12/2017: Devaluation of Algerian Dinar
The Algerian dinar was devalued again, as it faced economic challenges and low oil prices.
20/06/2016: Adoption of Flexible Exchange Rate Policy
The Central Bank of Nigeria adopted a flexible exchange rate policy, allowing the Naira to float freely against other currencies based on market forces.
29/06/2014: 50th Anniversary of Algerian Dinar
Algeria celebrated the 50th anniversary of the introduction of the Algerian dinar as its national currency.
21/12/1999: Introduction of Euro-Dinar Exchange Rate
The euro-dinar exchange rate was introduced, replacing the French franc as the peg currency for the Algerian dinar.
29/05/1999: Transition to Democratic Governance
Nigeria transitioned to democratic governance, leading to economic reforms and stability, positively affecting the value and management of the Naira currency.
17/09/1994: Introduction of New Dinar
A new series of banknotes was introduced in Algeria, with the intent of stabilizing the currency and reducing inflation.
12/06/1993: Introduction of the Third Nigerian Naira
The third Nigerian Naira (NGN) was introduced after the country's return to civilian rule following years of military regimes.
31/12/1984: Implementation of the Structural Adjustment Program
The Nigerian government implemented the Structural Adjustment Program, leading to a significant devaluation of the Naira and the adoption of a floating exchange rate.
01/07/1979: Adoption of the Second Nigerian Naira
The second Nigerian Naira (NGN) was introduced following the adoption of a new constitution and the country's transition to civilian rule.
10/11/1973: Devaluation of Algerian Dinar
The Algerian dinar was devalued by 30%, as a result of the global oil crisis and economic challenges faced by Algeria.
01/07/1973: Introduction of decimal currency
The Nigerian Naira was introduced as the official currency of Nigeria, replacing the pound sterling with a decimal currency system.
07/05/1971: Algerian Dinar Pegged to French Franc
The Algerian dinar was pegged to the French franc at a rate of 1 dinar to 1.20 francs, establishing a fixed exchange rate.
01/10/1964: Introduction of Algerian Dinar
The Algerian dinar was introduced as the official currency of Algeria, replacing the French franc at a rate of 1 dinar to 100 francs.