01/10/2022: Transition to digital currency
Gibraltar announced the introduction of a digital currency pegged 1:1 to the Gibraltar pound, making it one of the first jurisdictions to do so.
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.
15/08/2019: Commencement of polymer £50 issuance
Polymer £50 banknotes were introduced, replacing the older paper £50 notes.
26/06/2018: New £100 banknote issued
A new £100 banknote featuring the image of Sir Joshua Hassan, first Chief Minister of Gibraltar, was issued.
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.
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.
06/11/1988: Introduction of polymer banknotes
Polymer banknotes were introduced in Gibraltar, enhancing durability and counterfeit resilience.
01/08/1982: Currency Decimalization
The rand was decimalized, with 1 rand being equal to 100 cents.
15/02/1971: Currency tied to British pound
The Gibraltar pound became pegged to the British pound at a rate of 1:1, ensuring stability and ease of trade.
23/06/1969: Currency switch to decimalization
Gibraltar switched from the pound shilling pence system to a decimalized currency, with 100 pence equal to 1 pound.
14/09/1961: Introduction of the Rand
The South African rand was introduced as the official currency, replacing the South African pound.
07/03/1927: Introduction of Gibraltar pound
The Gibraltar pound was first introduced as the official currency of Gibraltar, replacing the Spanish peseta.