01/01/2021: Launch of a digital currency pilot program
Qatar announced the launch of a pilot program to test the use of a digital currency as part of its efforts to introduce blockchain technology in the financial sector.
05/06/2017: Qatar diplomatic crisis affects the currency
Following the diplomatic crisis and blockade imposed by neighboring countries, the Qatari rial faced volatility and depreciated against major currencies.
27/05/2015: Qatari rial pegged to a basket of currencies
The Qatari rial's peg was diversified to include a basket of currencies, reducing its dependence on the US dollar.
27/10/2008: Global Financial Crisis
The Korean Won faced significant volatility during the global financial crisis, as global markets tumbled and investor confidence wavered.
08/06/2001: Creation of the Qatar Central Bank
The Qatar Central Bank was established to replace the Qatar Currency Board and assume the responsibility of regulating the Qatari rial.
01/01/1998: Establishment of IMF Program
South Korea agreed to an International Monetary Fund (IMF) bailout package, which stabilized the value of the Korean Won and initiated economic reforms.
03/12/1997: Asian Financial Crisis
The Korean Won experienced a sharp depreciation during the Asian Financial Crisis, causing severe economic hardships and requiring international assistance.
27/07/1997: Qatar Currency Board established
The Qatar Currency Board was established to regulate the issuance and circulation of the Qatari rial and maintain its stability.
27/02/1980: Declaration of Martial Law
Amidst political turmoil, President Chun Doo-hwan declared martial law, causing economic instability and impacting the value of the Korean Won.
27/03/1976: Currency pegged to the US Dollar
The Qatari rial was pegged to the US dollar at a fixed exchange rate of 1 USD = 3.64 QAR to stabilize its value and promote trade.
24/06/1973: Introduction of Qatari Rial
Qatar officially introduced the Qatari rial as its currency, replacing the Gulf rupee at a rate of 1 rial = 1.65 rupees.
22/06/1962: Introduction of the Hwan
To combat inflation, the South Korean government introduced the Hwan as the new currency, replacing the old Korean Won.
27/07/1953: Armistice Agreement
Following the Korean War, the Armistice Agreement was signed, stabilizing the region and aiding in the recovery of the Korean Won.
15/08/1945: Liberation from Japanese Rule
Upon the end of Japanese colonial rule, the Korean Won was introduced as the official currency of South Korea.