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.
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.
10/09/2008: Introduction of Birr Denominations
Ethiopia introduced new banknotes of different denominations in an effort to combat counterfeiting and improve 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.
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.
27/05/1991: Introduction of Birr Coins
Ethiopia introduced coins for the birr denominations, replacing the previous notes.
01/08/1982: Currency Decimalization
The rand was decimalized, with 1 rand being equal to 100 cents.
17/09/1976: Introduction of New Birr
A new birr was introduced, replacing the previous Ethiopian birr and being equal to 100 old birr.
14/09/1961: Introduction of the Rand
The South African rand was introduced as the official currency, replacing the South African pound.
08/07/1945: Decree to Change Birr Decimalization
Ethiopia changed the birr decimalization from talari and ghersh to dollars and cents.
31/12/1931: Introduction of Ethiopian birr
The Ethiopian birr was introduced as the official currency, replacing the Maria Theresa Thaler.
05/07/1931: Ethiopian Monetary Authority Established
The Ethiopian Monetary Authority was established to regulate the country's monetary system and issue currency.
14/02/1894: Introduction of Maria Theresa Thaler
Ethiopia adopted the Maria Theresa Thaler as the official currency, which remained in circulation until 1935.