04/02/2021: Ending of Intervention Policy
Denmark's central bank announced the end of its long-standing policy of defending the Krone's peg to the Euro.
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Due to its low purchasing power and production costs, the 1 cent coin was withdrawn from circulation in the Cayman Islands.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.
19/09/2000: Referendum on Euro Membership
Danish voters rejected adopting the Euro in a referendum, maintaining the Krone as the national currency.
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.
31/12/1998: Euro peg
Denmark joined the European Exchange Rate Mechanism (ERM II), pegging the Krone to the Euro with a narrow fluctuation band.
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.
24/03/1982: Floating Exchange Rate
Denmark switched to a floating exchange rate regime, allowing the Krone's value to be determined by 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.
01/01/1972: Introduction of Cayman Islands Dollar
The Cayman Islands dollar was first introduced as the official currency, replacing the Jamaican dollar.
21/07/1944: Bretton Woods Agreement
Denmark became a member of the International Monetary Fund (IMF) and agreed to the Bretton Woods system, pegging the Krone to the US dollar.
10/09/1927: Return to Gold Standard
Denmark abandoned the gold standard due to economic pressures and public debt.
31/12/1872: Pegging to Gold Standard
The Danish Krone was pegged to the gold standard, fixing its value in relation to gold.