15/09/2021: Digitization of the Moroccan dirham
Morocco announced plans to digitize the dirham, introducing a central bank digital currency (CBDC) for financial transactions in the country.
02/06/2014: Introduction of the fourth dirham
Another series of Moroccan dirham banknotes was issued, featuring new designs and enhanced security features.
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Due to its low purchasing power and production costs, the 1 cent coin was withdrawn from circulation in the Cayman Islands.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.
02/07/2005: Dirham's exchange rate floatation
Morocco moved to a floating exchange rate regime, allowing the dirham to fluctuate based on market forces.
01/01/2001: Issuance of New Banknotes and Coins
New banknotes and coins with enhanced security features were introduced to combat counterfeiting.
01/05/1999: Introduction of the third dirham
A new series of Moroccan dirham banknotes was introduced with enhanced security features.
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.
12/12/1980: Introduction of the second dirham
A new series of Moroccan dirham banknotes was issued to replace the first series.
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.
17/10/1974: Adoption of the dirham as the currency
The Moroccan franc was replaced by the Moroccan dirham (MAD) as the official currency.
01/01/1972: Introduction of Cayman Islands Dollar
The Cayman Islands dollar was first introduced as the official currency, replacing the Jamaican dollar.
26/11/1960: Introduction of the Moroccan franc (FRF)
The Moroccan franc was introduced as the official currency of Morocco.