07/11/2013: Change in banknote design and security features
The Bank of Canada introduced new polymer banknotes with enhanced security features and redesigned motifs, replacing the paper-based notes in circulation since 1935.
01/01/2011: Replacement of Paper Banknotes with Polymer Banknotes
Panama replaced the paper banknotes with polymer banknotes to enhance durability and security of the Balboa currency.
31/03/1983: Currency Control Law Implemented
Panama implemented a currency control law to regulate the use and circulation of the Balboa and prevent counterfeiting.
15/08/1971: Canada switches to a floating exchange rate
Canada abandoned its fixed exchange rate system and adopted a floating exchange rate, allowing the value of the Canadian dollar to fluctuate in response to market forces.
01/03/1950: Introduction of the Canadian dollar's decimalization
Canada adopted a decimal currency system, dividing the dollar into 100 cents, replacing the previous system based on pounds, shillings, and pence.
15/10/1941: First Issue of Panamanian Balboa Banknotes
The first series of paper banknotes denominated in Balboa were issued by the Panamanian Currency Board.
01/10/1941: Introduction of the Balboa as Legal Tender
The Panamanian government introduced the Balboa as a legal tender, equivalent in value to the US dollar.
01/01/1933: Currency depreciation during the Great Depression
The Canadian dollar experienced significant depreciation during the Great Depression due to economic uncertainty and a decrease in international trade.
02/01/1914: Introduction of the Canadian Dollar Act
The Canadian Dollar Act established the Canadian dollar as the sole currency of Canada and gave the government control over its issuance.
01/10/1908: Creation of Panamanian Currency Board
The Panamanian Currency Board was established to issue paper money and stabilize the monetary system.
01/01/1907: Use of US Dollar in Panama
The US dollar became the official currency of Panama due to the presence of American workers during the canal construction.
18/11/1904: Panama Canal Construction Begins
The construction of the Panama Canal started, which would later lead to the need for a national currency.
01/01/1858: Introduction of the Canadian dollar
The Canadian pound was replaced by the Canadian dollar as the official currency of Canada, helping to unify the currency across the country.
01/01/1841: Introduction of the Canadian pound
The first Canadian currency was the Canadian pound, which was introduced to replace British pounds in the Province of Canada.