04/06/2020: Exchange rate stabilization
Efforts were made to stabilize the exchange rate of the Djiboutian franc to reduce inflation and encourage economic growth.
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.
01/09/2013: Replacement of coins with bi-metallic coins
Coins of lower denominations of the Djiboutian franc were replaced with bi-metallic coins.
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.
01/01/2002: Introduction of new banknotes
New banknotes of the Djiboutian franc were introduced with enhanced security features.
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.
15/09/1997: Second devaluation
The Djiboutian franc was devalued by 33% as a result of economic instability and high inflation.
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.
01/08/1982: Currency Decimalization
The rand was decimalized, with 1 rand being equal to 100 cents.
08/05/1977: First devaluation
The Djiboutian franc was devalued by 50% due to economic difficulties faced by the newly independent country.
27/06/1973: Independence from France
Djibouti gained independence from France and the Djiboutian franc became the national currency.
14/09/1961: Introduction of the Rand
The South African rand was introduced as the official currency, replacing the South African pound.
01/01/1949: Introduction of the Djiboutian franc
The Djiboutian franc was introduced as the official currency of French Somaliland, replacing the French franc at a 1:1 exchange rate.