24/06/2020: Rwandan Franc Devaluation
The central bank of Rwanda announced a gradual devaluation of the Rwandan franc to enhance export competitiveness and stimulate economic growth.
20/12/2019: Macao–Hong Kong Financial Cooperation Agreement signed
The Macau and Hong Kong authorities signed a financial cooperation agreement to strengthen monetary and financial stability, impacting the value and role of the Macanese pataca.
03/12/2008: New Currency Series
A new series of Rwandan franc banknotes was introduced, featuring updated security features and designs.
01/01/2004: East African Community
Rwanda joined the East African Community, leading to increased economic integration and cooperation within the region.
03/12/1998: Currency Redenomination
The Rwandan franc underwent a redenomination, with 100 old francs being replaced by 1 new franc.
08/05/1995: Currency board system implemented
Macau adopted a currency board system, establishing a fixed exchange rate between the Macanese pataca and the Hong Kong dollar.
07/04/1995: Rwandan Genocide
The Rwandan Genocide began, causing economic instability and inflation for the Rwandan franc.
20/10/1977: Internationalization of the pataca
Macau allowed the international use and exchange of the Macanese pataca, strengthening its role as a stable and convertible currency.
01/12/1973: Currency Reform
A currency reform was implemented, introducing a new series of Rwandan franc banknotes.
08/06/1967: Link with Portuguese escudo reestablished
The Macanese pataca was once again pegged to the Portuguese escudo, ending the gold standard era.
25/06/1964: Introduction of the Rwandan Franc
The Rwandan franc was introduced as the official currency of Rwanda, replacing the East African shilling.
18/06/1948: Gold standard introduced
The Macanese pataca switched to the gold standard, with its value pegged to gold coins. The gold standard lasted until 1967.
17/03/1906: Silver standard established
Macau adopted the silver standard for the pataca, linking its value to silver coins in circulation. This standard remained in place until 1948.
27/10/1901: Introduction of Macanese pataca
The Macanese pataca was first introduced as the official currency of Macau, replacing the Portuguese real. It was initially pegged to the Portuguese escudo.