[5] In February 2023, it was reported that the Monetary Authority was seeking public input for a new set of coin and banknote designs, which will feature King Charles III.

Following the completion of this process, the Monetary Authority will authorise production of the new designs, then gradually phase them into circulation.

On 1 May 1972,[7] the Cayman Islands Currency Board introduced notes in denominations of 1, 5, 10 and 25 dollars.

On 1 January 1997, the Cayman Islands Monetary Authority (CIMA) took over issuance of paper money, issuing notes for 1, 5, 10, 25, 50 and 100 dollars.

[4][11] As of 2014[update], the Cayman Islands Monetary Authority uses a retail exchange rate of CI$1.00 = US$1.227.