29/06/2020: Introduction of New Banknotes
Liberia introduces new banknotes with enhanced security features to combat counterfeiting and improve confidence in the currency.
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Due to its low purchasing power and production costs, the 1 cent coin was withdrawn from circulation in the Cayman Islands.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.
01/01/2001: Issuance of New Banknotes and Coins
New banknotes and coins with enhanced security features were introduced to combat counterfeiting.
14/10/2000: ECOWAS Intervention
ECOWAS forces intervene in Liberia, leading to improved stability and gradual recovery of the Liberian dollar.
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.
19/07/1997: Liberian Dollar Depreciation
The Liberian dollar experiences a significant depreciation due to economic mismanagement and the aftermath of the civil war.
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.
26/01/1982: Liberian Civil War Begins
The Liberian civil war begins, leading to significant economic instability and devaluation of the Liberian dollar.
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.
23/03/1907: Liberian Dollar Pegged to US Dollar
The Liberian dollar is pegged to the U.S. dollar at a ratio of 2:1, maintaining a fixed exchange rate for many years.
10/07/1849: Introduction of Liberian Dollar
The Liberian dollar is introduced as the official currency of Liberia, replacing the use of foreign currencies in the country.
26/07/1847: Liberian Independence
Liberia declares independence from the American Colonization Society, establishing the first republic in Africa.