KYD / ZAR

The Cayman Islands dollar is the official currency of the British Overseas Territory of the Cayman Islands, a major offshore financial centre in the Caribbean. It is issued by the Cayman Islands Monetary Authority and is pegged at a fixed rate of 1 KYD = 1.20 US dollars, a relationship that has been maintained since its introduction in 1972.

The dollar is subdivided into 100 cents, though cent coins are rarely used in everyday transactions. Banknotes are issued in denominations of $1, $5, $10, $25, $50 and $100 and feature local wildlife and landmarks. To avoid confusion with the US dollar, the symbol “CI$” is often employed, especially in pricing and financial reporting. English is the official language of the islands, and the population is referred to as Caymanian.