Money, Budget, and Shopping for the Cayman Islands

Money

Currency

Currency: Cayman Islands dollar (100 cents).

Banknotes: 1, 5, 10, 25, 50 and 100 CI$.

Coins: 1, 5, 10 and 25 cents.

Exchange rate:

The Cayman Islands dollar has been the territory's currency since 1972, when it replaced the Jamaican dollar that was previously in use. It has a fixed exchange rate with the US dollar: 1 CI$ = $1.22.

Exchange

While you can exchange money on-site or withdraw from ATMs to get Cayman Islands dollars, a good solution is to arrive with US dollars, which you can then use throughout your stay.

Which currency to bring

Although the official currency is the Cayman Islands dollar, the US dollar is used for almost everything. Therefore, it’s simplest to bring American money.

Payment methods

Paying in cash with US dollars is not a problem, though change is often given in Cayman Islands dollars. Be careful to check which currency prices are listed in, as while the two currencies have a fixed exchange rate (1 CI$ = $1.22), they are not at parity. Confusing the two could end up costing you 20% more on purchases. Credit cards are widely accepted on the islands. As always, watch out for bank fees if you make too many small purchases or withdrawals.

Returning home

The easiest option is to finish—or start—your trip with US dollars, which you can always use or exchange easily for another trip if you have any left. Additionally, the Cayman Islands dollar is not easily exchanged outside the archipelago.

Budget

A trip to the Cayman Islands is expensive. Most tourists are either high-spending visitors or cruise passengers, and nearly all everyday products are imported and subject to heavy taxes.

What can be expensive

Flights to get there.

Accommodation.

What might not be expensive

At a stretch, visiting the island as part of a cruise.

Price range

Budget hotel double room:

Mid-range hotel double room:

Snacks, local restaurant meals:

Tourist restaurant meals:

Car rental:

Bike rental:

Bus fare: between $2 and $3.50 per ticket, depending on the route (on Grand Cayman).

Taxi ride: