16/12/2016: Demonetization of 50 Rupee Note
The 50 Rupee banknote was demonetized, leading to widespread confusion and inconvenience as people rushed to exchange their old notes.
01/01/2010: Decimalization of Rupee
The Rupee was decimalized, with the introduction of coins denominated in cents, replacing the previous system of cents represented as a fraction of a Rupee.
01/01/2010: Removal of 1 cent coin from circulation
Due to its low purchasing power and production costs, the 1 cent coin was withdrawn from circulation in the Cayman Islands.
01/11/2007: Transition from Crown Dependencies to Overseas Countries and Territories
The Cayman Islands, including its currency, transitioned from being labeled as a Crown Dependency to an Overseas Country and Territory.
17/08/2005: Series of New Banknotes
A new series of banknotes featuring improved security features and a more vibrant design was introduced to combat counterfeiting.
01/06/2001: Introduction of 10 Rupee Coin
The 10 Rupee coin was introduced, replacing the 10 Rupee banknotes, to reduce the cost of production and improve durability.
01/01/2001: Issuance of New Banknotes and Coins
New banknotes and coins with enhanced security features were introduced to combat counterfeiting.
01/01/1999: Introduction of Cayman Islands Currency Law
The Cayman Islands Currency Law was enacted to provide a legal framework for the issuance and regulation of the currency.
01/07/1997: Pegging of the Cayman Islands Dollar to the US Dollar
The Cayman Islands dollar was pegged to the US dollar at a fixed exchange rate of KYD 1.00 = USD 1.20.
01/07/1977: Floating Exchange Rate
Sri Lanka shifted to a floating exchange rate regime, allowing the value of the Rupee to fluctuate based on market forces.
07/11/1974: Creation of the Cayman Islands Monetary Authority
The Cayman Islands Monetary Authority was established as the central bank responsible for regulating the currency and financial institutions.
22/05/1972: Ceylon becomes Sri Lanka
The country changes its name from Ceylon to Sri Lanka, and the currency is renamed Sri Lankan Rupee (LKR).
01/01/1972: Introduction of Cayman Islands Dollar
The Cayman Islands dollar was first introduced as the official currency, replacing the Jamaican dollar.
22/06/1966: Introduction of the Ceylon Rupee
The Ceylon Rupee was established as the official currency of Sri Lanka, replacing the Indian Rupee at a rate of 1:2.