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.
01/03/2018: Redenomination of the Aruban florin
Aruba redenominated its currency, replacing 1,000 florins with 1 florin, simplifying transactions and reducing the size of banknotes.
01/01/2011: Introduction of polymer banknotes
Aruba introduced polymer banknotes, made from a durable and secure polymer substrate, to enhance the durability and security of its currency.
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.
01/01/2003: Replacement of older banknotes
Older series of banknotes were phased out and replaced by newer and more secure banknotes featuring enhanced anti-counterfeiting measures.
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.
01/01/2000: Adoption of new currency symbol
The Aruban florin adopted a new symbol, ƒ, to distinguish itself from other currencies.
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.
01/01/1993: Currency reform
A currency reform took place in Aruba, with the introduction of a new series of banknotes and the demonetization of certain older banknotes.
01/01/1990: Introduction of the guilders coins
Aruba introduced its own series of coins denominated in guilders, featuring unique designs and symbols reflective of Aruban culture.
01/01/1986: Introduction of the Aruban florin
The Aruban florin was established as the official currency of Aruba, replacing the Dutch guilder at a fixed rate of 1.79 florin to 1 guilder.
01/08/1982: Currency Decimalization
The rand was decimalized, with 1 rand being equal to 100 cents.
14/09/1961: Introduction of the Rand
The South African rand was introduced as the official currency, replacing the South African pound.