24/06/2020: Rwandan Franc Devaluation
The central bank of Rwanda announced a gradual devaluation of the Rwandan franc to enhance export competitiveness and stimulate economic growth.
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Due to its low purchasing power and production costs, the 1 cent coin was withdrawn from circulation in the Cayman Islands.
03/12/2008: New Currency Series
A new series of Rwandan franc banknotes was introduced, featuring updated security features and designs.
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.
01/01/2004: East African Community
Rwanda joined the East African Community, leading to increased economic integration and cooperation within the region.
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.
03/12/1998: Currency Redenomination
The Rwandan franc underwent a redenomination, with 100 old francs being replaced by 1 new franc.
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.
07/04/1995: Rwandan Genocide
The Rwandan Genocide began, causing economic instability and inflation for the Rwandan franc.
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.
01/12/1973: Currency Reform
A currency reform was implemented, introducing a new series of Rwandan franc banknotes.
01/01/1972: Introduction of Cayman Islands Dollar
The Cayman Islands dollar was first introduced as the official currency, replacing the Jamaican dollar.
25/06/1964: Introduction of the Rwandan Franc
The Rwandan franc was introduced as the official currency of Rwanda, replacing the East African shilling.