US currency vs. Euro

[flatman]

I'm just assuming that Grand Caymans currency is the Euro, and I would like to know the differance between US dollar vs. the Euro. ( If in fact that is the currency used there ). I tried to google this and got a royal run-around so I came here for the answer.

[nolaAlive]

Cayman Islands Dollar (KYD), although they also take US dollars.

 

Usually 1 KYD is about $1.20 US.

[drew sailbum]

As a British Overseas Territory you might expect Cayman to use the British Pound as currency, but it does not. Cayman has its own currency, the Cayman Dollar.

 

The Cayman Dollar is set at a fixed rate to the US Dollar. The exchange rate used depends upon which currency the item is priced in and how you choose to pay.

 

Some goods and services are priced in US Dollars at destinations popular with cruise ship visitors. Simple, just pay your bill in US$.

 

If an item is priced in CI$ and you want to pay in US$, then the rate is CI$1=US$1.25 (or CI$1=US$0.80). You might run into this situation at a restaurant.

 

If an item is priced in CI$ and you have CI$ to pay with, again no problem.

 

If you are looking to spend the last of your CI$ change and buying an item which is priced in US$, then the rate of exchange is US$1=CI$0.84 (or CI$1=US$1.19).

 

All credit cards charges are converted first to US$ by the merchant before running the charge. Visa/MC/Amex do not deal in small change currencies like the Cayman Dollar. If your card is in a currency other than the US$, the merchant still can only convert your charge to US$ and then the cc company converts the charge to Euro, Can$, or whatever your home currency may be.

 

Finally, there is one narrow way to get a better exchange rate. You may exchange US$ traveler's checks at most banks at the rate of US$1=CI$0.82 (CI$1 = US$1.22). You will only get that rate at a bank. At a merchant traveler's checks will get the same exchange rate as cash.

[flatman]

Thank you all for this information..You do learn something everyday!

[dizneydawn]

If I purchase something with US dollars, what will my change be in US or CI?:confused:

 

If I get CI change, how do I get it back to US before we leave? Or is it possible to get an exchange once back on the ship? (if we are pressed for time)

 

Thanks!

[Ren1216]

Bring small enough bills ashore to make your purchases with (the pursers desk on board will break larger bills for you). Then before finalizing your purchase, ask if your change can be given back in USD. As far as I know, ships don't provide currency exchange, but I assume you could stop at a bank to exchange any CI back into USD. If its just a few coins, those make good souveniers.