Cayman Islands dollar facts for kids
Quick facts for kids Cayman Islands dollar |
|
|---|---|
| ISO 4217 Code | KYD |
| User(s) |  Cayman Islands (UK) |
| Inflation | -0.1% |
| Source | March 2009 |
| Pegged with | CI$1.00=US$1.20 |
| Subunit | |
| 1⁄100 | cent |
| Symbol | $ |
| Coins | |
| Freq. used | 1, 5, 10, 25 cents |
| Banknotes | |
| Freq. used | $1, $5, $10, $25, $50, $100 |
| Rarely used | $40, $70 (commemorative) |
The Cayman Islands Dollar (official code KYD) is the money used in the Cayman Islands. You might see it written as $ or CI$ to show it's different from other types of dollars. One Cayman Islands Dollar is made up of 100 cents.
Contents
History of the Cayman Islands Dollar
The Cayman Islands Dollar started being used in 1972. This was about ten years after the Cayman Islands separated from Jamaica. Before 1972, people used the Jamaican dollar. For a short time, both currencies were accepted. But by August 31, 1972, only the Cayman Islands Dollar was legal to use.
Since April 1, 1974, the Cayman Islands Dollar has been fixed to the United States dollar. This means that 1 Cayman Islands Dollar is always worth 1.2 US Dollars. The Governor of the Cayman Islands decides this value.
In 2023, the Cayman Islands Monetary Authority asked people for ideas for new coin and banknote designs. These new designs will feature King Charles III. Once the designs are ready, the new money will slowly start to be used.
Coins of the Cayman Islands
In 1972, the first coins were made. They came in values of 1 cent, 5 cents, 10 cents, and 25 cents. The 1-cent coin was made of bronze, and the others were made of cupronickel. Later, in 1992, the materials changed. The 1-cent coins became copper-plated steel, and the others became nickel-plated steel.
| Coins of the Cayman Islands Dollar | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Image | Value | How they are made | What they look like | First made in | |||||
| Size | Thickness | Weight | Material | Edge | Front side | Back side | |||
| 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 of the Cayman Islands
On May 1, 1972, the Cayman Islands Currency Board started printing banknotes. These were in values of 1, 5, 10, and 25 dollars. A special 40-dollar note was made in 1981, but it was not used for long. Later, 100-dollar notes came out in 1982, and 50-dollar notes in 1987.
Since January 1, 1997, the Cayman Islands Monetary Authority (CIMA) has been in charge of printing money. They issue notes for 1, 5, 10, 25, 50, and 100 dollars. The most common banknotes you see today were first issued on April 4, 2011.
In 2023, CIMA also released special 70-dollar notes. These were made to remember the Platinum Jubilee of Queen Elizabeth II and her passing.
| Front | Back | Value | Size | Main Color | What you see | Design year | First issued | Special mark | |
|---|---|---|---|---|---|---|---|---|---|
| Front side | Back side | ||||||||
| $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; "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; "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; "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; "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; "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; View of the Financial Center in George Town | 2010 | April 4, 2011 | Turtle; "CIMA"; Cornerstones | ||
How the Cayman Islands Dollar is Used
| Current KYD exchange rates | |
|---|---|
| From Google Finance: | AUD CAD CHF EUR GBP HKD JPY USD EUR JPY |
| From Yahoo! Finance: | AUD CAD CHF EUR GBP HKD JPY USD EUR JPY |
| From XE.com: | AUD CAD CHF EUR GBP HKD JPY USD EUR JPY |
| From OANDA: | AUD CAD CHF EUR GBP HKD JPY USD EUR JPY |
| From fxtop.com: | AUD CAD CHF EUR GBP HKD JPY USD EUR JPY |
When you visit the Cayman Islands, many places like hotels, restaurants, and shops will accept US Dollars. They usually accept 1 US Dollar for every 80 Cayman cents. However, you will most likely get your change back in Cayman Islands Dollars.
Banks on the islands buy US Dollars at 82 Cayman Island cents each. They sell US Dollars at a rate of 1.20 US Dollars for every Cayman Island Dollar. As of As of 2014[update], the Cayman Islands Monetary Authority uses a rate of CI$1.00 = US$1.227 for retail exchanges.
Related Topics
- Cayman Islands Monetary Authority
- Economy of the Cayman Islands
