In tourism, investment, or trade, understanding exchange rates between currencies is crucial. This article examines the relationship between the Cayman Islands dollar (KYD) and the US dollar (USD), with a specific focus on the conversion of 50 KYD.
Current Exchange Rate
According to the latest data, 1 Cayman Islands dollar exchanges for approximately 1.2038 US dollars. Therefore, 50 KYD converts to roughly 60.18 USD. This rate is subject to change based on market fluctuations.
Recent Exchange Rate Trends
Over the past 30 days, the KYD/USD exchange rate has shown moderate volatility, reaching a high of 1.2195 and a low of 1.2053. The average exchange rate during this period was approximately 1.2096, demonstrating relative stability. Compared to other currency pairs, the KYD/USD exhibits lower volatility, with a current fluctuation rate of just 0.61%.
Factors Influencing the Exchange Rate
Exchange rate movements are influenced by multiple factors including economic conditions, political stability, market demand, and global economic trends. For investors and traders, understanding these dynamics is essential for making informed financial decisions.
Key Characteristics of the KYD
The Cayman Islands dollar is commonly represented by the "$" symbol. Its exchange rate is closely monitored in international foreign exchange markets, particularly for transactions between the Caribbean region and the United States.
Key Exchange Rate Metrics
- Highest rate: 1.2195
- Lowest rate: 1.2053
- Average rate: 1.2096
- Volatility rate: 0.61%
In summary, understanding the exchange rate between the Cayman Islands dollar and the US dollar is valuable for anyone using these currencies. Whether for personal travel or commercial transactions, staying informed about exchange rate movements enhances financial decision-making.