01/07/2020: Euro as legal tender
North Macedonia officially adopted the Euro as its currency, replacing the Macedonian Denar for all monetary transactions.
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.
15/05/2018: Denar's symbol adoption
The official symbol for the Macedonian Denar (den) was adopted, representing the currency in both domestic and international transactions.
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.
10/10/2005: Denar's full Euro peg
The Macedonian Denar was fully pegged to the Euro at a fixed exchange rate of 61.5 Denars to 1 Euro.
29/04/2003: Replacement of banknotes
New series of banknotes with enhanced security features were introduced, replacing the older versions.
05/11/2001: Denar's devaluation
Due to the political crisis in Macedonia, the Denar underwent a significant devaluation, losing around 40% of its value against the Euro.
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.
15/05/1995: Denar's peg to the German Mark
The Macedonian Denar was pegged to the German Mark at a rate of 1 Denar to 1.5 Deutsche Mark, establishing a stable exchange rate.
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.
26/11/1992: Introduction of the Macedonian Denar
The Macedonian Denar was introduced as the official currency of the Republic of Macedonia following its declaration of independence from Yugoslavia.
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.
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.