On what date did the United Kingdom's Black Wednesday currency and stock-market crisis occur?

The United Kingdom's Black Wednesday currency and stock-market crisis occurred on 16 September 1992.

The crisis happened while sterling was in the European Exchange Rate Mechanism (ERM), which required participating currencies to remain within agreed exchange-rate bands. Heavy market pressure made it difficult for the British government to keep the pound above its ERM floor.

The government raised interest rates twice on the day, eventually announcing a rise from 10% to 15%, but those measures failed to restore confidence. The United Kingdom then suspended sterling's ERM membership. The episode became known as Black Wednesday because of its severe political and financial consequences.

Black Wednesday is often confused with the 1987 Black Monday stock-market crash. Black Wednesday was primarily a currency and monetary-policy crisis, although it also affected British financial markets and government credibility. The pound later fell sharply, while the event contributed to a major change in the UK's approach to exchange-rate policy.