The Cayman Islands is a self-governing territory of the British. It is located in the western Caribbean Sea. The Cayman Islands consisted of three islands involving Grand Cayman, Cayman Brac, and Little Cayman. The total area of this land is 102 square miles. George Town is the largest and also the capital city of the Cayman Islands. English is the official language. The current currency is the Cayman Island Dollar.
The history of the Cayman Island Dollar.
Cayman Island gained its independence in 1962 from Jamaica. 10 years later, the Cayman Island Dollar (KYD) was introduced to replace the Jamaica Dollar (JMD). On Aug 1, 1972, when the JMD officially was no longer a legal tender, the Cayman Island Dollar started pegging on the US dollar.
The first banknote series of the KYD was introduced on May 1, 1972. The denominations were at 1, 5, 10, 25, and 40 dollars. However, the $40 notes ceased to be circulating after 1981. In 1982, the $100 notes were added into this series, followed by the $50 notes in 1987.
On Jan 1, 1997, the Cayman Island Monetary Authority (CIMA) took over the money production. They started issuing banknotes available from $1 to $100 notes.
The current banknotes series was introduced on Apr 4, 2011. There were no changes in denominations. The features on these banknotes were specially decorated with the sea animals since the Cayman Islands entirely is covered by sea such as angelfish on the $1 notes, turtles on the $2 notes. Commonly, the portrait of the Queen of England and the map of the Cayman Island on the facade side. On the reverse side, it mainly featured the important places or symbols of the Cayman Islands.