01/04/2020: 50th Anniversary of the Paʻanga
Tonga celebrated the 50th anniversary of the introduction of the paʻanga as its national currency.
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.
29/07/2014: Second Devaluation of the Paʻanga
Another devaluation occurred, this time by 20%, as part of Tonga's economic reform program.
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.
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.
13/09/1999: Introduction of Euro
Switzerland decided not to join the Eurozone and maintain the Swiss franc (CHF) as its official currency.
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.
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.
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.
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.
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).
24/11/1907: Gold Standard Referendum
Switzerland voted to adopt the gold standard, making the Swiss franc (CHF) fully convertible into gold.
06/06/1850: Currency Act of 1850
The Swiss franc (CHF) was introduced as the official currency of Switzerland.