03/11/2020: Economic Impact of COVID-19
The COVID-19 pandemic caused economic disruptions globally, affecting the Egyptian Pound's exchange rate and foreign reserves.
30/10/2016: Withdrawal of the 1000-krone banknote
The Norges Bank phased out the 1000-krone banknote, as part of efforts to combat money laundering and reduce the use of cash in the economy.
14/11/1999: Liberalization of Exchange Rate
The Egyptian government implemented a managed float exchange rate system, allowing the Pound to fluctuate based on market forces.
01/01/1999: Creation of the euro
Several European countries introduced the euro as a common currency, but Norway chose to maintain the krone, cementing its separate monetary path.
19/11/1992: Norway rejects European Union membership
In a referendum, Norway voted against joining the European Union, reaffirming its independent monetary policy and keeping the krone outside the eurozone.
12/08/1987: Introduction of New Egyptian Pound
A new Egyptian Pound banknote was introduced to combat counterfeiting and improve security features.
14/09/1962: Devaluation of the Pound
The Egyptian government devalued the Pound by 55%, leading to a significant decrease in its value.
23/07/1952: Overthrow of the Monarchy
The Egyptian monarchy was overthrown, leading to political and economic changes that affected the value of the Egyptian Pound.
22/10/1931: Devaluation of the krone
To counter the effects of the Great Depression, Norway devalued the krone by 14%, aiming to boost exports and stimulate the economy.
01/11/1920: Krone's return to the gold standard
Following the end of World War I, Norway reintroduced the gold standard for the krone, stabilizing its value and restoring confidence in the currency.
02/08/1914: Suspension of krone's gold standard
Due to the outbreak of World War I, Norway suspended the krone's convertibility into gold, allowing for more flexibility in monetary policy during the war.
02/05/1885: Establishment of Central Bank of Egypt
The Central Bank of Egypt was established to regulate the currency and banking system in Egypt.
27/10/1875: The introduction of the krone currency
The krone was established as the official currency of Norway, replacing the previous speciedaler, marking a significant milestone in the country's monetary history.
29/07/1834: Introduction of Egyptian Pound
The Egyptian Pound was introduced as the official currency of Egypt, replacing the piastre.