The currency of the Cayman Islands is the Cayman Dollar, and the Cayman Islands Currency is issued by the Cayman Islands Monetary Authority (CIMA) as established by law in January 1997. CIMA replaced the previous Cayman Islands Currency Board which was formed in 1971. The Cayman Dollar was first circulated in May 1972.
The Cayman Islands Dollar has a fixed exchange rate of 1 Cayman Dollar to 1.227 US Dollars, by arrangement with the World Bank. However, it is typically traded at USD1.20 in retail outlets around the island.
The Caymandollar or Cayman Islands dollar is the currency of the Cayman Islands.
It is issued by the Cayman Islands Monetary Authority (CIMA) as established by law in January 1997.
Prior to May 1972, currency in the Cayman Islands had traditionally been supplied by Jamaica, and after its independence in 1962 the Jamaican pound, and later the Jamaican dollar in 1968, continued, until May 1, 1972, to be the only legal tender in the islands.
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