Cayman Islands dollar

Short description: Currency of the Cayman Islands

"KYD" redirects here. For the airport in Taiwan, see Lanyu Airport. For the Australian literary magazine, see Kill Your Darlings (magazine).

Cayman Islands dollarISO 4217

Code| KYD (numeric: 136)
Subunit| 0.01
Unit
Symbol| $
Denominations
Subunit|
​1⁄100| cent
Banknotes|
Freq. used| $1, $5, $10, $25, $50, $100
Rarely used| $40, $70 (commemorative)
Coins|
Freq. used| 1, 5, 10, 25 cents
Demographics
Date of introduction| 1972
User(s)|  Cayman Islands (UK)
Issuance
Central bank| Cayman Islands Monetary Authority
Website| www.cimoney.com.ky
Valuation
Inflation| -0.1%
Source| March 2009[1]
Pegged with| CI$1.00=US$1.25 (cash rate)
File:2 dollar Cayman 1975MS.pngNon-circulating commemorative $2 coin from 1975

The Cayman Islands Dollar (currency code KYD) is the currency of the Cayman Islands. It is abbreviated with the dollar sign $, or alternatively CI$ to distinguish it from other dollar-denominated currencies. It is subdivided into 100 cents.

The Cayman Islands dollar has been pegged to the United States dollar at 1 Cayman Islands dollar = 1.2 U.S. dollars since 1 April 1974.[2]

## Contents

* 1 History
* 2 Coins
* 3 Banknotes
* 4 Exchange rates
* 5 Half pounds
* 6 See also
* 7 References
* 8 External links

## History

The Cayman Islands dollar was introduced in 1972 (10 years after separation from the Colony of Jamaica), replacing the Jamaican dollar at par. Jamaican currency and Cayman Islands dollars both remained legal tender until 31 August 1972,[2][3] when Jamaican currency ceased to be legal tender. The Cayman Islands dollar has been pegged to the United States dollar at 1 Cayman Islands dollar = 1.2 U.S. dollars since 1 April 1974, when the Currency Law of 1974 was enacted.[2] In 1983, the 1974 law was repealed and replaced by the Currency Law Revised, which itself was replaced in 1997 by section 22 of the Monetary Authority Law.[4] Under section 22 of the 2013 revision of the Monetary Authority Law, the value of the Cayman dollar in United States Dollars is determined by the Governor.[5] In February 2023, it was reported that the Monetary Authority was seeking public input for a new set of coin and banknote designs, which will feature King Charles III. Following the completion of this process, the Monetary Authority will authorise production of the new designs, then gradually phase them into circulation.[6]

## Coins

In 1972, coins in denominations of 1¢, 5¢, 10¢ and 25¢ were introduced. The 1¢ was struck in bronze, with the other denominations in cupronickel. From 1992, copper and nickel-plated steel replaced bronze and cupronickel, respectively.

Coins of the Cayman Islands dollar

Image  | Value  | Technical parameters  | Description  | Date of first minting
Diameter  | Thickness  | Mass  | Composition  | Edge  | Obverse  | Reverse
| 1 cent  | 17 mm  | 1.72 mm  | 2.55 g  | Copper-plated steel  | Smooth  | Queen Elizabeth II  | Grand Cayman thrush | 1999
| 5 cents  | 18 mm  | 1.1 mm  | 2 g  | Nickel-plated steel  | Smooth  | Queen Elizabeth II  | Cayman crawfish  | 1999
| 10 cents  | 21 mm  | 1.46 mm  | 3.45 g  | Nickel-plated steel  | Smooth  | Queen Elizabeth II  | Green sea turtle | 1999
| 25 cents  | 24.26 mm  | 1.61 mm  | 5.1 g  | Nickel-plated steel  | Smooth  | Queen Elizabeth II  | Schooner "Kirk B"  | 1999

## Banknotes

On 1 May 1972,[7] the Cayman Islands Currency Board introduced notes in denominations of 1, 5, 10 and 25 dollars. 40 dollar notes were introduced in 1981 but were taken out of circulation a few years later, followed by 100 dollars in 1982 and 50 dollars in 1987. On 1 January 1997, the Cayman Islands Monetary Authority (CIMA) took over issuance of paper money, issuing notes for 1, 5, 10, 25, 50 and 100 dollars. The current series of notes was issued on 4 April 2011.[8]

The CIMA issued notes of 70 dollars in 2023 to commemorate the anniversary of the death of Elizabeth II and the Platinum Jubilee of Elizabeth II.[9]

2010 "D Series" issue[10] Obverse | Reverse | Value | Dimensions | Main Color | Description | Date of issue | Date of first issue | Watermark

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Obverse | Reverse
|  | $1  | 156 x 66 mm  | Blue  | Angel fish; map of the Cayman Islands; Coat of arms of the Cayman Islands; Queen Elizabeth II  | Nautilus shell; The Bluff on Cayman Brac  | 2010  | April 4, 2011  | Turtle; electrotype "CIMA"; Cornerstones
|  | $5  | 156 x 66 mm  | Green  | Hawksbill turtles; map of the Cayman Islands; Coat of arms of the Cayman Islands; Queen Elizabeth II  | Conch shell; Cayman parrots | 2010  | April 4, 2011  | Turtle; electrotype "CIMA"; Cornerstones
|  | $10  | 156 x 66 mm  | Pink  | Landcrabs; map of the Cayman Islands; Coat of arms of the Cayman Islands; Queen Elizabeth II  | Shell; wild banana orchid  | 2010  | April 4, 2011  | Turtle; electrotype "CIMA"; Cornerstones
|  | $25  | 156 x 66 mm  | Brown  | Scallop shells; map of the Cayman Islands; Coat of arms of the Cayman Islands; Queen Elizabeth II  | Scallop shell; Hawksbill turtle; fish; coral  | 2010  | April 4, 2011  | Turtle; electrotype "CIMA"; Cornerstones
|  | $50  | 156 x 66 mm  | Purple  | Stingrays; map of the Cayman Islands; Coat of arms of the Cayman Islands; Queen Elizabeth II  | Shell; stingray  | 2010  | April 4, 2011  | Turtle; electrotype "CIMA"; Cornerstones
|  | $100  | 156 x 66 mm  | Red  | Cayman Schooner boats; map of the Cayman Islands; Coat of arms of the Cayman Islands; Queen Elizabeth II  | Conch shell; Aerial view of the Financial Center in George Town  | 2010  | April 4, 2011  | Turtle; electrotype "CIMA"; Cornerstones

## Exchange rates

Current KYD exchange rates

From Google Finance:  | AUD CAD CHF CNY EUR GBP HKD JPY USD EUR JPY
From Yahoo! Finance:  | AUD CAD CHF CNY EUR GBP HKD JPY USD EUR JPY
From XE.com:  | AUD CAD CHF CNY EUR GBP HKD JPY USD EUR JPY
From OANDA:  | AUD CAD CHF CNY EUR GBP HKD JPY USD EUR JPY

On the islands, the US dollar is accepted as legal currency by hotels, restaurants, and retail establishments at the rate of 1 US Dollar for every 80 Cayman cents.[11] Change is usually given in Cayman Island dollars.[12]

Banks buy US Dollars at 82 Cayman Island cents each and sell 1.20 US dollars per Cayman Island dollar.[4][11] As of 2014[update], the Cayman Islands Monetary Authority uses a retail exchange rate of CI$1.00 = US$1.227.[13]

## Half pounds

The Cayman Islands dollar is an offshoot of the Jamaican dollar, which is essentially a half pound sterling. Jamaica followed the pattern of South Africa, Australia, and New Zealand in using the half-pound unit as opposed to the pound as the unit of account when it adopted the decimal system. The choice of the name "dollar" was motivated by the fact that the reduced value of the new unit corresponded more closely to the value of the US dollar than it did to the pound sterling.

## See also

* Cayman Islands Monetary Authority
* Central banks and currencies of the Caribbean
* Economy of the Cayman Islands

## References

1. ↑ CAYMAN ISLANDS' CONSUMER PRICE REPORT: March 2009 (Date: June 12, 2009)
2. ↑ 2.0 2.1 2.2 Cayman Islands Monetary Authority (2005-12-14). "The History of Cayman Islands Currency". https://www.cima.ky/currency.
3. ↑ Cayman Islands Government Notice No. 126 of 1972, proclamation No. 2 of 1972, dated 7 July 1972
4. ↑ 4.0 4.1 "Cayman Islands Monetary Authority - Currency". http://www.cimoney.com.ky/currency/default.aspx?id=82.
5. ↑ "Monetary Authority Law (2013 Revision)". 1 November 2013. p. 18. http://www.cimoney.com.ky/WorkArea/DownloadAsset.aspx?id=2147484142.
6. ↑ "CIMA reaches out for design ideas for new cash : Cayman News Service". https://caymannewsservice.com/2023/02/cima-reaches-out-for-design-ideas-for-new-cash/.
7. ↑ Linzmayer, Owen (2012). "Cayman Islands". The Banknote Book. San Francisco, CA: www.BanknoteNews.com. http://www.banknotebook.com.
8. ↑ Cayman Islands new family of notes confirmed BanknoteNews.com. Retrieved 2012-05-16.
9. ↑ "CIMA Unveils Queen Elizabeth II $70 Commemorative Banknote". https://www.cima.ky/cima-unveils-queen-elizabeth-ii-70-commemorative-banknote.
10. ↑ "Cayman Islands new family of notes confirmed". http://banknotenews.com/files/e26d963e086621c2010ce13d7c95ece5-1488.php.
11. ↑ 11.0 11.1 "Grand Cayman". The New York Times. April 16, 1989. https://www.nytimes.com/1989/04/16/travel/l-grand-cayman-469289.html.
12. ↑ Cayman Islands Department of Tourism. "Cayman Islands Quick Guide". http://www.caymanislands.ky/tour_guide/country.aspx.
13. ↑ "Cayman Islands Monetary Authority - Currency". http://www.cimoney.com.ky/currency/currency.aspx?id=830.

* Krause, Chester L.; Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed.). Krause Publications. ISBN 0873411501.
* Pick, Albert (1994). Standard Catalog of World Paper Money: General Issues (7th ed.). Krause Publications. ISBN 0-87341-207-9.

## External links

* Cayman Islands Monetary Authority

* v
* t
* e

Currencies named dollar or similar

Circulating|

* Australian dollar
* Bahamian dollar
* Barbadian dollar
* Belize dollar
* Bermudian dollar
* Brunei dollar
* Canadian dollar
* Cayman Islands dollar
* Cook Islands dollar
* Eastern Caribbean dollar
* Fijian dollar
* Guyanese dollar
* Hong Kong dollar
* Jamaican dollar
* Kiribati dollar
* Liberian dollar
* Namibian dollar
* New Zealand dollar
* Samoan tālā
* Singapore dollar
* Solomon Islands dollar
* Surinamese dollar
* New Taiwan dollar
* Trinidad and Tobago dollar
* Tuvaluan dollar
* United States dollar

Obsolete and historical|

* Antigua dollar
* British Columbia dollar
* British North Borneo dollar
* British West Indies dollar
* Ceylonese rixdollar
* Confederate States dollar
* Continental dollar
* Danish rigsdaler
* Danish West Indian daler
* Danish West Indian rigsdaler
* Dominican dollar
* Dutch rijksdaalder
* Greenlandic rigsdaler
* Grenadian dollar
* Hawaiian dollar
* Japanese occupation dollar
* Kiautschou dollar
* Malaya and British Borneo dollar
* Malayan dollar
* Mauritian dollar
* Mongolian dollar
* Nevisian dollar
* New Brunswick dollar
* Newfoundland dollar
* Norwegian rigsdaler
* Norwegian speciedaler
* Nova Scotian dollar
* Penang dollar
* Prince Edward Island dollar
* Puerto Rican dollar
* Rhodesian dollar
* Saint Kitts dollar
* Saint Lucia dollar
* Saint Vincent dollar
* Sarawak dollar
* Sierra Leonean dollar
* Slovenian tolar
* Spanish dollar
* Straits dollar
* Sumatran dollar
* Swedish riksdaler
* Old Taiwan dollar
* Texas dollar
* Trinidadian dollar
* Tobagonian dollar
* Zimbabwean dollar
* Zimbabwean dollar (2019–2024)
* Toronto dollar

Noncirculating|

* Niue dollar
* Pitcairn Islands dollar

Conceptual|

* Eurodollar
* Petrodollar
* International dollar (Geary–Khamis dollar)

Virtual|

* Linden dollar
* Project Entropia Dollar

Fictional|

* Angus Bucks

Private|

* Calgary dollar
* Disney Dollars
* Salt Spring dollar
* Liberty dollar

See also|

* Dollar sign ($)
* Holey dollar
* Thaler
* Tolar
* Trade dollar
* Zimbabwean bond coins
* Zimbabwean bond notes

* v
* t
* e

Currencies of the Americas

North|

* Bermudian dollar
* Canadian dollar
* Danish krone
* Euro
* Mexican peso
* U.S. dollar

Caribbean|

* Aruban florin
* Bahamian dollar
* Barbadian dollar
* Caribbean guilder
* Cayman Islands dollar
* Cuban peso
* Dominican peso
* East Caribbean dollar
* Euro
* Haitian gourde
* Jamaican dollar
* Trinidad and Tobago dollar
* U.S. dollar

Central|

* Bitcoin
* Belize dollar
* Costa Rican colón
* Guatemalan quetzal
* Honduran lempira
* Nicaraguan córdoba
* Panamanian balboa
* U.S. dollar
* Salvadoran colón(non-circulating)

South|

* Argentine peso
* Bolivian boliviano
* Brazilian real
* Chilean peso
* Colombian peso
* Euro
* Ecuadorian centavo coins
* Falkland Islands pound
* Guyanese dollar
* Paraguayan guaraní
* Peruvian sol
* Sterling
* Surinamese dollar
* Uruguayan peso
* U.S. dollar
* Venezuelan bolívar

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