Cayman Islands dollar

Cayman Islands dollar
ISO 4217
CodeKYD
Denominations
Subunit
 1/100cent
Symbol$
Banknotes1, 5, 10, 25, 50, 100 dollars
Coins1, 5, 10, 25 cents
Demographics
User(s) Cayman Islands (UK)
Issuance
Central bankwww.cimoney.com.ky
Valuation
Inflation-0.1%
 SourceMarch 2009[1]
Pegged withUnited States Dollar, 1.00 KYD = 1.20 USD

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. It is the 9th-highest-valued currency unit in the world, as of 5 November 2018.[2]

History

The Cayman Islands dollar was introduced in 1972 ( 10 years after separation from Colony of Jamaica ), replacing the Jamaican dollar at par. Jamaican currency and Cayman Islands dollars both remained legal tender until 1 August 1972,[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dollar = 1.2 U.S. dollars since 1 April 1974, when the Currency Law of 1974 was enacted.[4] In 1983, the 1974 law was repealed and replaced by the Currency Law Revised, which itself was replaced in 1997 by section 22 of the Monetary Authority Law.[5] Under section 22 of the 2013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.[6]

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