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candj
Southport, North Carolina, US
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#17731
10/01/2012 12:22 PM
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Joined: Nov 2009
Posts: 49
Traveler
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OP
Traveler
Joined: Nov 2009
Posts: 49 |
Is it wise to do a money exchange or just use US$.? I realize that our money is not worth as much in Cayman.
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Joined: Feb 2008
Posts: 160
Traveler
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Traveler
Joined: Feb 2008
Posts: 160 |
The CI$/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.
Snorkel air just tastes better than canned air...
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Joined: Sep 2000
Posts: 296
Traveler
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Traveler
Joined: Sep 2000
Posts: 296 |
.... 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.
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