Half Pounds
The Cayman Islands dollar is an off-shoot of the Jamaican dollar which is essentially a half pound sterling. Jamaica followed the pattern of South Africa, Australia, and New Zealand in that when it adopted the decimal system, it decided to use the half-pound unit as opposed to the pound unit of account. The choice of the name "dollar" was motivated by the fact that the reduced value of the new unit corresponded more closely to the value of the US dollar than it did to the pound sterling.
Read more about this topic: Cayman Islands Dollar
Famous quotes containing the word pounds:
“When I was one-and-twenty
I heard a wise man say,
“Give crowns and pounds and guineas
But not your heart away;
Give pearls away and rubies,
But keep your fancy free.”
But I was one-and-twenty,
No use to talk to me.”
—A.E. (Alfred Edward)
“When I was one-and-twenty
I heard a wise man say,
“Give crowns and pounds and guineas
But not your heart away;”
—A.E. (Alfred Edward)