# Cayman Islands dollar

> currency of the Cayman Islands

**Wikidata**: [Q319885](https://www.wikidata.org/wiki/Q319885)  
**Wikipedia**: [English](https://en.wikipedia.org/wiki/Cayman_Islands_dollar)  
**Source**: https://4ort.xyz/entity/cayman-islands-dollar

## Summary
The Cayman Islands dollar (KYD) is the official currency of the British overseas territory of the Cayman Islands, adopted in May 1972. It serves as the primary medium of exchange for goods and services in the region, managed by the Cayman Islands Monetary Authority since 1997.

## Key Facts
- **Currency Class**: Generally accepted medium of exchange for goods or services.
- **Currency Name**: Dollar, used since 1972.
- **Issuing Authority**: Cayman Islands Monetary Authority (inception: January 1, 1997).
- **Territory**: British overseas territory in the Caribbean (part of the United Kingdom).
- **Wikipedia Title**: Cayman Islands dollar.
- **Wikidata Description**: Currency of the Cayman Islands.
- **Sitelink Count**: 41 (indicating notable online references).

## FAQs
**What is the Cayman Islands dollar used for?**
The Cayman Islands dollar is the primary medium of exchange for transactions within the Cayman Islands, facilitating trade and financial services in the region.

**Who regulates the Cayman Islands dollar?**
The Cayman Islands Monetary Authority is responsible for the issuance and regulation of the Cayman Islands dollar since its establishment in 1997.

**When was the Cayman Islands dollar introduced?**
The Cayman Islands dollar was adopted in May 1972, replacing the previous currency.

**Is the Cayman Islands dollar part of a larger monetary system?**
No, the Cayman Islands dollar operates independently as the sole currency of the Cayman Islands, a British overseas territory.

## Why It Matters
The Cayman Islands dollar plays a crucial role in the financial services sector of the Cayman Islands, attracting international businesses due to its stable currency and favorable regulatory environment. Its adoption in 1972 marked a shift from the previous currency, reinforcing the territory's economic independence. The Cayman Islands Monetary Authority's oversight ensures financial stability, supporting the region's reputation as a global financial hub.

## Notable For
- **Independent Currency**: The Cayman Islands dollar is the sole currency of the Cayman Islands, a British overseas territory.
- **Regulatory Authority**: The Cayman Islands Monetary Authority manages the currency, ensuring financial stability.
- **Historical Adoption**: Introduced in May 1972, replacing the previous currency.

## Body
### Currency Overview
The Cayman Islands dollar (KYD) is the official currency of the Cayman Islands, a British overseas territory in the Caribbean. It serves as the primary medium of exchange for goods and services in the region. The currency is managed by the Cayman Islands Monetary Authority, which was established in 1997.

### History
- **Adoption**: The Cayman Islands dollar was introduced in May 1972, replacing the previous currency.
- **Regulation**: The Cayman Islands Monetary Authority took over currency management in 1997.

### Economic Role
- **Financial Hub**: The Cayman Islands dollar supports the territory's financial services sector, attracting international businesses.
- **Stability**: The currency's stability contributes to the Cayman Islands' reputation as a global financial center.

### Related Entities
- **Cayman Islands Monetary Authority**: The regulatory body overseeing the Cayman Islands dollar since 1997.
- **Cayman Islands**: A British overseas territory in the Caribbean, where the dollar is the sole currency.

### Classification
- **Currency**: Part of the broader category of currencies used as a medium of exchange.
- **Dollar**: One of many currencies sharing the name "dollar."

This structured entry provides a comprehensive overview of the Cayman Islands dollar, incorporating all available facts and relationships from the source material.

## References

1. Freebase Data Dumps. 2013