According to currency conversion data available Wednesday, CI$1 was worth 99 British pence, a roughly one-to-one ratio.

With the U.K. pound falling sharply twice since the June 23 vote to separate from the European Union, Cayman Islands currency is now worth almost as much as the Mother Country’s.

The Brexit vote sent the U.K. pound to its lowest levels against the U.S. dollar since 1985.According to currency conversion data available Wednesday, CI$1 was worth 99 British pence, a roughly one-to-one ratio. The Cayman Islands dollar is pegged to U.S. currency, not the U.K.’s.

Cayman Islands London Office chief Eric Bush said the U.K. currency appeared to rallying on Wednesday, but that local officials were bracing for a “further blow” if Prime Minister Theresa May invokes Article 50, the formal, legal separation from the EU.

In a speech to the Chamber of Commerce in Cayman Wednesday, Premier Alden McLaughlin noted that the territory was “watching the evolution of Brexit” and was optimistic that “in the sea of uncertainty that is Brexit, the Cayman Islands is an increasingly attractive place to live, work, invest and do business.”


  1. I just purchased a frozen dessert at one of the local supermarkets from the UK Tesco brand with the price of 1 pound clearly marked on the package. I paid CI$3.59 for it. I trust Cayman prices for these items imported from the UK will soon drop sharply.

  2. Roger. Good luck with that.

    It looks outrageous to pay more than 3 times the marked price for anything. But remember that this frozen dessert has to be kept frozen and flown here at great expense. And that fuel cost is paid in dollars. Then import duty is paid on it.
    Does that truly merit tripling the UK price? Probably not.

    My solution. Don’t buy it.

  3. Roger , the difference between the two prices just shows us how Government and the retailer are gouging us consumers just on one frozen dessert . But a very good reference. Did you see where that dessert was made ? Maybe it was made in Cayman with the British trade mark that requires it to be wrapped with a certain wrapper . But if everyone was like me those desserts would stay where they are made and sold , and I am no cheap wod .

    I don’t like the Premier words in the last paragraph of the article, they sounds very Independent minded to me .

  4. My problem is I have a sweet tooth and strangely, similar items imported from the States are often more expensive. My point however is that although freight costs will be higher on imported frozen products, retailers will be saving around 17% on their purchase cost and also on the freight if it is paid in the UK, so this should soon be reflected in our supermarket prices. This is of course based on the assumption that our supermarkets do not operate like our wholesale gas distributors.

Comments are closed.