23/03/2020: COVID-19 Pandemic Impact
The rand experienced significant volatility and depreciation as a result of the COVID-19 pandemic, affecting the country's economy and trade balance.
28/06/2019: Withdrawal of the $2 note
The Central Bank of Solomon Islands announced the withdrawal of the $2 note from circulation, promoting the use of coins instead.
02/01/2012: Introduction of polymer banknotes
The Central Bank of Solomon Islands issued polymer banknotes to replace the paper ones, enhancing durability and security.
02/05/2011: Renewal of currency design
The Central Bank of Solomon Islands introduced new banknotes with enhanced security features and a refreshed design.
15/12/2008: Global Financial Crisis Impact
The rand plunged against major currencies due to the global financial crisis and concerns about South Africa's economic stability.
09/11/2001: Rand Weakens to Record Low
The rand weakened to an all-time low against the US dollar, due to global economic uncertainty and domestic political concerns.
01/01/1995: Establishment of Reserve Bank Independence
The South African Reserve Bank gained independence, allowing it to have more control over monetary policy.
27/04/1994: First Democratic Elections
The first democratic elections were held in South Africa, marking the end of apartheid and bringing political stability, positively affecting the rand's value.
22/03/1993: Introduction of the $2 coin
The $2 coin was introduced as a new denomination of the Solomon Islands Dollar.
01/08/1982: Currency Decimalization
The rand was decimalized, with 1 rand being equal to 100 cents.
25/01/1979: Monetary Authority Act
The Monetary Authority Act was passed, establishing the Central Bank of Solomon Islands as the sole issuer and regulator of the SBD.
06/07/1977: Introduction of the Solomon Islands Dollar
The Solomon Islands Dollar was introduced as the official currency replacing the Australian Dollar at a rate of 1:1.
07/06/1977: Independence of Solomon Islands
Solomon Islands gained independence from British rule, establishing the need for their own currency, the Solomon Islands Dollar (SBD).
14/09/1961: Introduction of the Rand
The South African rand was introduced as the official currency, replacing the South African pound.