02/12/2016: Peace Agreement Impact
After the signing of the peace agreement with FARC, the Colombian Peso strengthened and saw improvements in the economy.
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Due to its low purchasing power and production costs, the 1 cent coin was withdrawn from circulation in the Cayman Islands.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.
24/07/2001: Exchange rate flexibility
Colombia allowed the Colombian Peso to have a flexible exchange rate, transitioning from a fixed exchange rate system.
01/01/2001: Issuance of New Banknotes and Coins
New banknotes and coins with enhanced security features were introduced to combat counterfeiting.
21/10/1999: Colombia's Financial Crisis
Colombia faced a financial crisis resulting in a devaluation of the Peso and an economic recession.
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.
04/07/1991: Introduction of a New Peso
A new Peso was introduced with a higher value, replacing the old Peso due to high inflation.
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.
01/01/1972: Introduction of Cayman Islands Dollar
The Cayman Islands dollar was first introduced as the official currency, replacing the Jamaican dollar.
12/06/1953: Creation of Banco de la República
The central bank of Colombia, Banco de la República, was established to regulate and control the Colombian Peso.
31/07/1886: Adoption of the Gold Standard
Colombia adopted the gold standard, linking the value of the Peso to gold, stabilizing the currency.
27/05/1837: Introduction of the Peso
The Colombian Peso was introduced as the official currency of Colombia, replacing the Spanish real.