01/04/2020: 50th Anniversary of the Paʻanga
Tonga celebrated the 50th anniversary of the introduction of the paʻanga as its national currency.
16/12/2016: Demonetization of 50 Rupee Note
The 50 Rupee banknote was demonetized, leading to widespread confusion and inconvenience as people rushed to exchange their old notes.
29/07/2014: Second Devaluation of the Paʻanga
Another devaluation occurred, this time by 20%, as part of Tonga's economic reform program.
01/01/2010: Decimalization of Rupee
The Rupee was decimalized, with the introduction of coins denominated in cents, replacing the previous system of cents represented as a fraction of a Rupee.
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.
17/08/2005: Series of New Banknotes
A new series of banknotes featuring improved security features and a more vibrant design was introduced to combat counterfeiting.
01/06/2001: Introduction of 10 Rupee Coin
The 10 Rupee coin was introduced, replacing the 10 Rupee banknotes, to reduce the cost of production and improve durability.
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.
01/07/1977: Floating Exchange Rate
Sri Lanka shifted to a floating exchange rate regime, allowing the value of the Rupee to fluctuate based on market forces.
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.
22/05/1972: Ceylon becomes Sri Lanka
The country changes its name from Ceylon to Sri Lanka, and the currency is renamed Sri Lankan Rupee (LKR).
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.
22/06/1966: Introduction of the Ceylon Rupee
The Ceylon Rupee was established as the official currency of Sri Lanka, replacing the Indian Rupee at a rate of 1:2.