01/04/2020: 50th Anniversary of the Paʻanga
Tonga celebrated the 50th anniversary of the introduction of the paʻanga as its national currency.
17/06/2018: Introduction of New Banknotes
A new series of UAE dirham banknotes, featuring enhanced durability, 3D security features, and tactile marks for visually impaired individuals, is introduced.
29/07/2014: Second Devaluation of the Paʻanga
Another devaluation occurred, this time by 20%, as part of Tonga's economic reform program.
14/03/2008: Currency Redenomination
Tonga redenominated its currency, removing three zeros from the paʻanga to simplify monetary transactions.
01/01/2007: Security Enhancements
New security features, including holograms and advanced anti-counterfeiting measures, are added to the UAE dirham banknotes.
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.
01/12/2002: Introduction of Modern Coinage
A new series of UAE dirham coins, featuring modern designs and security features, is introduced.
20/03/1995: Currency Peg to US Dollar
The UAE dirham is pegged to the United States dollar at a fixed exchange rate of 1 USD to 3.6725 AED.
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.
01/01/1978: Currency Issuance Authority
The UAE Currency Issuing Authority is established, granting the authority to issue and manage the UAE dirham.
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.
28/01/1973: Decoupling from Pound Sterling
The UAE dirham is officially decoupled from the British pound sterling and a new exchange rate is set.
02/12/1971: Formation of UAE
The United Arab Emirates is formed, resulting in the introduction of the UAE dirham as its official 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.