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.
01/10/2019: New Generation Banknotes
Kenya introduced a new series of banknotes with enhanced security features and design elements to fight illicit financial activities.
01/07/2010: Introduction of New Currency Denominations
Kenya introduced new currency denominations, including the 1000 shilling note, to combat money laundering and illegal financial activities.
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.
14/09/1994: Transition to New Currency
Kenya introduced a new design of banknotes and coins to counter counterfeiting and promote national identity.
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.
01/07/1985: Second Devaluation of the Shilling
The Kenyan shilling was further devalued by 30% as part of economic reforms and structural adjustments.
01/08/1982: Currency Decimalization
The rand was decimalized, with 1 rand being equal to 100 cents.
14/09/1980: Devaluation of the Shilling
The Kenyan shilling was devalued by 30% as part of an austerity measure to address the country's economic challenges.
14/06/1969: Decimalization of the Shilling
Kenya decimalized its currency, dividing the shilling into 100 cents for easier transactions and financial calculations.
14/06/1966: Introduction of the Kenyan Shilling
The Kenyan shilling was introduced as the official currency of Kenya replacing the East African shilling as a result of Kenya's independence from British colonial rule.
14/09/1961: Introduction of the Rand
The South African rand was introduced as the official currency, replacing the South African pound.