Time Period: 1972-

Currency: Cayman Islands Dollar


Timeline

  • 27.09.1971
  • Law [Currency, No. 19] on the establishment of a currency board and creation of a national currency; effective 01.05.1972
  • 01.05.1972
  • Start of currency exchange:
    - 01.05.1972: Start of issuance of the new banknotes and coins
    - 31.08.1972: End of exchange period, demonetization of the Jamaican currency.
  • 18.03.1974
  • Law [Currency, No. 1] amending the 1971 law and introducing the US Dollar peg; effective 01.04.1974
  • 20.09.1996
  • Law [Monetary Authority, No. 16] on the establishment of the Monetary Authority replacing the currency board; effective 01.01.1997

Valuation Regimes

  • 1972-1974
  • Fixed rate against British Pound
  • 1974-
  • Fixed rate against US Dollar

Rate Arrangements

  • 01.05.1972
  • Fixed
  • British Pound at 1 : 2
  • ±0.0%
  • 01.04.1974
  • Fixed
  • US Dollar at 1.20 : 1
  • +0.1%


End-year Forex Rates (Units per US Dollar)