Cayman Islands - 1 Dollar - P-5b - 1974 dated Foreign Paper Money

1 Dollar, P-5b Prefix A/3. The Cayman Islands Dollar, denoted by the currency code KYD, serves as the official currency of the Cayman Islands. It is commonly represented by the dollar sign $, or alternatively as CI$ to differentiate it from other currencies that also use the dollar symbol. The currency is divided into 100 cents. Introduced in 1972, the Cayman Islands dollar replaced the Jamaican dollar at par, following the islands' separation from the Colony of Jamaica a decade earlier. Both the Jamaican currency and the Cayman Islands dollar were accepted as legal tender until 31 August 1972, when the Jamaican dollar was no longer recognized as such. Since 1 April 1974, the Cayman Islands dollar has been pegged to the United States dollar at a rate of 1 Cayman Islands dollar to 1.2 U.S. dollars, following the enactment of the Currency Law of 1974.

This law was repealed in 1983 and succeeded by the Currency Law Revised, which was later replaced in 1997 by section 22 of the Monetary Authority Law. According to section 22 of the 2013 revision of the Monetary Authority Law, the value of the Cayman dollar against the U.S. dollar is determined by the Governor. In February 2023, it was announced that the Monetary Authority was soliciting public feedback for new designs of coins and banknotes that will feature King Charles III. Upon completion of this design process, the Monetary Authority will authorize the production of the new currency, which will be gradually introduced into circulation.