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Money Exchange #17731
10/01/2012 12:22 PM
10/01/2012 12:22 PM
Joined: Nov 2009
Posts: 49
T
Tolafans Offline OP
Traveler
Tolafans  Offline OP
Traveler
T
Joined: Nov 2009
Posts: 49
Is it wise to do a money exchange or just use US$.? I realize that our money is not worth as much in Cayman.

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Re: Money Exchange [Re: Tolafans] #17732
10/01/2012 01:38 PM
10/01/2012 01:38 PM
Joined: Feb 2008
Posts: 152
Texas
Testudo Offline
Traveler
Testudo  Offline
Traveler
Joined: Feb 2008
Posts: 152
Texas
The CI$/KYD has a fixed cash exchange rate with the USD. No need or benefit to exchange money if you already have USD.

$1.00 KYD = $1.25 USD
$1.00 USD = $.80 KYD

Note, when paying with USD you will get any change back in KYD.

Credit cards are also almost universally accepted (Visa & Mastercard, Amex less so) and transactions for US based card are conducted in USD. So if you have a card that does not charge a Foreign Transaction action fee it can be an easy alternative to carrying cash.


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Re: Money Exchange [Re: Testudo] #17733
12/12/2012 03:19 PM
12/12/2012 03:19 PM
Joined: Sep 2000
Posts: 294
Stillwater, Minnesota
BobA Offline
Traveler
BobA  Offline
Traveler
Joined: Sep 2000
Posts: 294
Stillwater, Minnesota
.... and, unlike purchasing with a credit card in other countries; there is no better exchange rate provided through the credit card company's rate. U.S. cards used in GC retain the flat 25% rate. On my trip last Feb, rarely if ever used cash, used credit card; I don't even recall seeing GC currency or change.


Moderated by  Eric_Hill 

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