15/01/2015: Removal of Minimum Exchange Rate
The Swiss National Bank unexpectedly abandoned the minimum exchange rate, causing the Swiss franc (CHF) to surge in value.
06/09/2011: Implementation of Minimum Exchange Rate
The Swiss National Bank imposed a minimum exchange rate pegging the Swiss franc (CHF) to the Euro to prevent excessive appreciation.
01/01/2011: Replacement of Paper Banknotes with Polymer Banknotes
Panama replaced the paper banknotes with polymer banknotes to enhance durability and security of the Balboa currency.
13/09/1999: Introduction of Euro
Switzerland decided not to join the Eurozone and maintain the Swiss franc (CHF) as its official currency.
31/03/1983: Currency Control Law Implemented
Panama implemented a currency control law to regulate the use and circulation of the Balboa and prevent counterfeiting.
08/05/1973: Floatation of Swiss Franc
Switzerland abandoned the fixed exchange rate system, allowing the Swiss franc (CHF) to float freely against other currencies.
15/10/1941: First Issue of Panamanian Balboa Banknotes
The first series of paper banknotes denominated in Balboa were issued by the Panamanian Currency Board.
01/10/1941: Introduction of the Balboa as Legal Tender
The Panamanian government introduced the Balboa as a legal tender, equivalent in value to the US dollar.
01/05/1936: Introduction of Swiss National Bank
The Swiss National Bank was established as the central bank responsible for issuing and managing the Swiss franc (CHF).
01/10/1908: Creation of Panamanian Currency Board
The Panamanian Currency Board was established to issue paper money and stabilize the monetary system.
24/11/1907: Gold Standard Referendum
Switzerland voted to adopt the gold standard, making the Swiss franc (CHF) fully convertible into gold.
01/01/1907: Use of US Dollar in Panama
The US dollar became the official currency of Panama due to the presence of American workers during the canal construction.
18/11/1904: Panama Canal Construction Begins
The construction of the Panama Canal started, which would later lead to the need for a national currency.
06/06/1850: Currency Act of 1850
The Swiss franc (CHF) was introduced as the official currency of Switzerland.