KYD (Cayman Islands Dollar)

DEFINITION of 'KYD (Cayman Islands Dollar)'

The currency abbreviation or currency symbol for the Cayman Islands dollar (KYD), the currency for the Cayman Islands. The Cayman Islands dollar is made up of 100 cents and is often presented with the symbol $ or CI$. In terms of value, the KYD is ranked ninth in the world.

BREAKING DOWN 'KYD (Cayman Islands Dollar)'

The Cayman Island dollar was first seen in 1972, replacing the Jamaican dollar on a 1:1 basis. Both Jamaican and Cayman Island currency were used in the Cayman Islands until 1972, when use of Jamaican currency was discontinued. The Cayman Islands dollar was pegged to the U.S. dollar in 1974, but is now valued slightly below its peg rate.

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