13/12/2021: Introduction of New Banknotes and Coins
New banknotes and coins were introduced, featuring updated designs, improved security features, and denominations. This aims to enhance the efficiency of cash transactions.
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.
03/04/2017: Transition to Free Float
After gradually reducing interventions, Kazakhstan fully transitioned to a free float exchange rate for the tenge, allowing the market to determine its value.
20/08/2015: Tenge Devaluation
Kazakhstan devalued the tenge by around 30% due to falling oil prices and economic instability. This move aimed to boost exports and protect the economy.
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.
19/04/2004: Introduction of New Banknotes
New banknotes with enhanced security features and updated designs were introduced to combat counterfeiting and modernize the currency.
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.
04/10/1999: Floating Exchange Rate
Kazakhstan switched to a floating exchange rate regime, allowing the tenge to fluctuate freely based on market supply and demand.
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.
15/02/1994: Denomination of Tenge
The tenge underwent a 10,000-fold denomination, where 1 new tenge was equal to 10,000 old tenge. This was done to simplify currency handling and eliminate excessive zeros.
15/11/1993: Introduction of Kazakhstani Tenge
The Kazakhstani tenge was introduced as the new currency of Kazakhstan, replacing the Soviet ruble. The exchange rate was set at 1 tenge = 500 rubles.
01/08/1982: Currency Decimalization
The rand was decimalized, with 1 rand being equal to 100 cents.
14/09/1961: Introduction of the Rand
The South African rand was introduced as the official currency, replacing the South African pound.