KYD (Cayman Islands Dollar)

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Definition of 'KYD (Cayman Islands Dollar)'

The Cayman Islands dollar (ISO 4217 code: KYD; sign: $; also known as the Cayman dollar) is the currency of the Cayman Islands. It is subdivided into 100 cents. The Cayman Islands dollar is issued by the Cayman Islands Monetary Authority.

The Cayman Islands dollar is pegged to the United States dollar at a rate of 1 KYD = 1.25 USD. This peg has been in place since 1971.

The Cayman Islands dollar is used in the Cayman Islands, as well as in the British Virgin Islands and Turks and Caicos Islands. It is also used in some other Caribbean countries, such as Anguilla, Bermuda, and Montserrat.

The Cayman Islands dollar is a popular currency for tourists, as it is easy to exchange for other currencies. It is also a popular currency for international businesses, as it is a stable currency.

The Cayman Islands dollar is a relatively new currency, having been introduced in 1971. Before that, the Cayman Islands used the British pound.

The Cayman Islands dollar is a well-managed currency, and it is expected to remain stable in the future.

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