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.
18/03/2020: COVID-19 pandemic impact
The Australian dollar experienced a sharp decline due to the global economic impact of the COVID-19 pandemic and uncertainty in financial markets.
13/10/2011: Record high exchange rate
The Australian dollar reached a record high exchange rate of above $1.10 against the US dollar, driven by strong commodity demand and high interest rates.
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.
06/10/2008: Global Financial Crisis
The Australian dollar experienced a significant decline due to the impact of the global financial crisis, reaching a low point of around $0.60 against the US dollar.
09/11/2001: Rand Weakens to Record Low
The rand weakened to an all-time low against the US dollar, due to global economic uncertainty and domestic political concerns.
30/06/1996: Introduction of the polymer banknotes
Australia introduced polymer banknotes, replacing the paper-based banknotes, enhancing their durability and security features.
01/01/1995: Establishment of Reserve Bank Independence
The South African Reserve Bank gained independence, allowing it to have more control over monetary policy.
27/04/1994: First Democratic Elections
The first democratic elections were held in South Africa, marking the end of apartheid and bringing political stability, positively affecting the rand's value.
08/03/1983: Floating of the Australian dollar
The Australian dollar was fully floated and allowed to fluctuate freely on the foreign exchange market, leading to increased volatility.
01/08/1982: Currency Decimalization
The rand was decimalized, with 1 rand being equal to 100 cents.
12/12/1971: End of the fixed exchange rate
Australia shifted from a fixed exchange rate to a flexible exchange rate, allowing market forces to determine the value of the Australian dollar.
13/02/1966: Decimalisation of the Australian currency
Australia adopted decimal currency, replacing the pound with the Australian dollar, symbol 'A$'.
14/09/1961: Introduction of the Rand
The South African rand was introduced as the official currency, replacing the South African pound.