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.
19/05/2019: Launch of New Bahraini Dinar Series
A new series of Bahraini dinar banknotes was launched, featuring enhanced security features, updated designs, and braille markings for the visually impaired.
06/02/2014: Introduction of Polymer Banknotes
Bahrain introduced polymer banknotes for the first time, enhancing durability and security of the 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.
30/09/2006: Bahraini Dinar Convertibility
Bahrain lifted the restrictions on the convertibility of the Bahraini dinar, allowing it to be freely traded and exchanged internationally.
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.
20/08/2001: Bahraini Dinar Second Edition
A new series of Bahraini dinar banknotes was introduced, featuring enhanced security features and updated designs.
01/01/1995: Establishment of Reserve Bank Independence
The South African Reserve Bank gained independence, allowing it to have more control over monetary policy.
24/06/1994: Establishment of the Bahrain Monetary Agency
The Bahrain Monetary Agency (now known as the Central Bank of Bahrain) was established to regulate and oversee the Bahraini dinar.
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.
01/08/1982: Currency Decimalization
The rand was decimalized, with 1 rand being equal to 100 cents.
31/12/1972: Bahrain Dinar Pegged to US Dollar
The Bahraini Dinar was pegged to the US Dollar at a fixed exchange rate of 1 dinar = $2.80, which continues to this day.
15/10/1965: Introduction of the Bahraini Dinar
The Bahraini Dinar was introduced as the official currency of Bahrain, replacing the Gulf rupee at a rate of 1 dinar = 10 rupees.
14/09/1961: Introduction of the Rand
The South African rand was introduced as the official currency, replacing the South African pound.