Historic Tongan paʻanga South Korean Won

Tongan paʻanga south korean won history for February 2024. The highest quote for this month is 576.32 (20/02/2024) and the lowest 575.66 (20/02/2024). The difference between high and low is 0.11.

TOP KRW average rate for February 2024 is 567.33481, the change between 01/02/2024 and 29/02/2024 is -0.36 %.

01 February 20241 TOP = 565.0 KRW
02 February 20241 TOP = 565.4 KRW
03 February 20241 TOP = 569.2 KRW
04 February 20241 TOP = 569.2 KRW
05 February 20241 TOP = 566.5 KRW
06 February 20241 TOP = 563.3 KRW
07 February 20241 TOP = 557.8 KRW
08 February 20241 TOP = 562.6 KRW
09 February 20241 TOP = 573.5 KRW
12 February 20241 TOP = 569.1 KRW
13 February 20241 TOP = 568.8 KRW
14 February 20241 TOP = 571.3 KRW
15 February 20241 TOP = 565.8 KRW
16 February 20241 TOP = 567.6 KRW
17 February 20241 TOP = 569.1 KRW
18 February 20241 TOP = 569.1 KRW
19 February 20241 TOP = 569.3 KRW
20 February 20241 TOP = 574.0 KRW
21 February 20241 TOP = 571.5 KRW
22 February 20241 TOP = 567.5 KRW
23 February 20241 TOP = 565.5 KRW
24 February 20241 TOP = 566.6 KRW
25 February 20241 TOP = 566.6 KRW
26 February 20241 TOP = 564.0 KRW
27 February 20241 TOP = 562.1 KRW
28 February 20241 TOP = 570.9 KRW
29 February 20241 TOP = 567.0 KRW

01/04/2020: 50th Anniversary of the Paʻanga

Tonga celebrated the 50th anniversary of the introduction of the paʻanga as its national currency.

29/07/2014: Second Devaluation of the Paʻanga

Another devaluation occurred, this time by 20%, as part of Tonga's economic reform program.

27/10/2008: Global Financial Crisis

The Korean Won faced significant volatility during the global financial crisis, as global markets tumbled and investor confidence wavered.

14/03/2008: Currency Redenomination

Tonga redenominated its currency, removing three zeros from the paʻanga to simplify monetary transactions.

16/11/2006: Riot and Currency Crisis

Civil unrest and riots erupted in Tonga, leading to a currency crisis and a temporary suspension of trading the paʻanga.

01/01/1998: Establishment of IMF Program

South Korea agreed to an International Monetary Fund (IMF) bailout package, which stabilized the value of the Korean Won and initiated economic reforms.

03/12/1997: Asian Financial Crisis

The Korean Won experienced a sharp depreciation during the Asian Financial Crisis, causing severe economic hardships and requiring international assistance.

01/04/1991: First Devaluation of the Paʻanga

The paʻanga was devalued by 25% in an attempt to boost Tonga's economy and improve trade competitiveness.

27/02/1980: Declaration of Martial Law

Amidst political turmoil, President Chun Doo-hwan declared martial law, causing economic instability and impacting the value of the Korean Won.

04/06/1975: Independence of Tonga

Tonga gained full independence from the United Kingdom, further solidifying the status of the paʻanga as its national currency.

01/04/1967: Introduction of the Paʻanga

The Tongan paʻanga was introduced as the official currency, replacing the pound at a rate of 1 pound = 2 paʻanga.

22/06/1962: Introduction of the Hwan

To combat inflation, the South Korean government introduced the Hwan as the new currency, replacing the old Korean Won.

27/07/1953: Armistice Agreement

Following the Korean War, the Armistice Agreement was signed, stabilizing the region and aiding in the recovery of the Korean Won.

15/08/1945: Liberation from Japanese Rule

Upon the end of Japanese colonial rule, the Korean Won was introduced as the official currency of South Korea.
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