01/01/2017: Floating Exchange Rate Regime
Mongolia adopts a fully floating exchange rate regime for the Tugrik, allowing the currency's value to be determined by market forces without intervention from the central bank.
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.
26/06/2009: Currency Redenomination
Mongolia redenominates its currency, replacing the old Tugrik banknotes with new ones at a ratio of 1 to 1000, in an effort to simplify transactions and reduce inflation.
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.
06/03/1993: Mongolia Joins IMF
Mongolia becomes a member of the International Monetary Fund (IMF), influencing monetary policies and further shaping the development of the Tugrik currency.
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.
01/07/1992: Tugrik Exchange Rate Liberalization
Mongolia liberalizes the exchange rate of the Tugrik, allowing it to fluctuate based on market forces and paving the way for a more flexible currency system.
21/12/1991: Transition to Market Economy
Mongolia undergoes a transition from a centrally planned economy to a market economy, leading to major changes in the Tugrik currency system.
04/07/1946: Mongolian People's Bank Established
The Mongolian People's Bank is established as the central bank of Mongolia, responsible for issuing and managing the Tugrik currency.
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.
01/12/1925: Introduction of the Tugrik Currency
Mongolia officially introduces the Tugrik as its national currency, replacing the previous currency system.
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.
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.