Article: Rumors of currency devaluation in Cayman Islands false, monetary authority says

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Dateline: GEORGE TOWN, Cayman Islands The Cayman Islands has no plans to devalue its currency, which is fully backed by U.S. dollar reserves, a Monetary Authority official said Monday in a statement denying persistent rumors of a devaluation.

Following the Sept. 11 attacks on the United States, rumors started circulating in the British territory that a U.S. recession would lead the islands' to devalue the Cayman ...

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