East African shilling

From Wikipedia, the free encyclopedia

The shilling was the currency issued for use in Kenya, British Somaliland, Italian Somaliland, Tanzania, Uganda and parts of Yemen during the time these areas were British colonies and protectorates. It is also the proposed name for a common currency that the East African Community plans to introduce by the end of 2009.[1]

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The East African shilling (XEAS) was introduced in 1921, replacing the short-lived florin at a rate of 2 shillings = 1 florin. The currency was equivalent to one shilling sterling and was subdivided into 100 cents. It was used as currency in the British colonies and protectorates in East Africa and Arabia until the mid 1960s, when it was replaced by local currencies (Kenyan shilling, Somali shilling, South Yemeni dinar, Ugandan shilling and Tanzanian shilling) following the colonies' independence. [2] It was also used in what used to be Italian Somaliland under British occupation from 1941 to 1949. In 1949, the territory was returned to Italy as a UN Trusteeship. Shortly thereafter, it switched to the Italian Somaliland somalo.

In 1921, coins in denominations of 5, 10 and 50 cents and 1 shilling were introduced, to which 1 cent coins were added the following year. The denominations issued went unchanged throughout the existence of the currency, with the final issues being dated 1964. The 1, 5 and 10 cents coins were bronze and holed. The 50 cents and 1 shilling were minted in 25% silver until 1948, when cupro-nickel versions were introduced.

In 1921, notes were isued by the East African Currency Board in denominations of 5, 10, 20, 100, 200, 1000 and 10,000 shillings, with the notes of 20 shillings and above also carrying the denominations given in pounds (1, 5, 10, 50 and 500). In 1943, 1 shilling notes were issued, the only occasion that such notes were produced. 1000 shilling notes were only issued until 1933, with 10,000 shillings notes last issued in 1947. The remaining denominations were issued until 1964.

A new version of the currency is proposed by the East African Community, which consists of Kenya, Tanzania, and Uganda, and is to coincide with the creation of a constitution and a Federation between the member states in 2010. Rwanda and Burundi have also shown interest in the possibility in joining all or part of the community.

  1. ^  New East African Shilling and more about the proposed "Federation"
  2. ^  Historical currency
  3. Global Financial Data currency histories table
  4. Tables of modern monetary history: Asia
  5. Tables of modern monetary history: Kenya
  6. Tables of modern monetary history: Tanzania
  7. Tables of modern monetary history: Uganda
  8. Tables of modern monetary history: Somalia/Somaliland
  9. Tables of modern monetary history: Ethiopia
  10. Tables of modern monetary history: Eritrea


Preceded by:
Indian rupee
Ratio: 1 shilling = 1 British shilling
Currency of Protectorate of Aden
19511959
Currency of Federation of Arab Emirates of the South
19591962
Currency of Federation of South Arabia
19621965
Succeeded by:
Yemeni dinar
Ratio: 1 dinar = 20 shillings = 1 British pound
Currency of remainder of Protectorate of Aden
19591962
Note: throughout this time period, various states within the protectorate joined the federation
Currency of Colony of Aden
19511962
Preceded by:
Zanzibari rupee
Ratio: 1.5 East African shillings = 1 Zanzibari rupee = 1 Indian rupee = 1.5 British shilling
Currency of Zanzibar
January 1, 19361964
Currency of Tanzania
(formerly Tanganyika and Zanzibar)

19641966
Succeeded by:
Tanzanian shilling
Reason: currency independence
Ratio: at par
Preceded by:
East African florin
Ratio: 2 shillings = 1 florin = 2 British shilling
Currency of East Africa
(Kenya, Tanganyika, Uganda)
January 1, 1922 – various dates of independence
Currency of Kenya
19631966
Succeeded by:
Kenyan shilling
Reason: currency independence
Ratio: at par
Currency of Uganda
19621966
Succeeded by:
Ugandan shilling
Reason: currency independence
Ratio: at par
Preceded by:
Italian East African lira
Reason: United Kingdom recaptured British Somaliland from Italy, and also occupied Italian East Africa
Ratio: 1 shilling = 24 lira = 1 British shilling
Currency of British Somaliland
19411962
Succeeded by:
Somali shilling
Reason: independence as part of Somalia
Ratio: at par
Currency of Italian Somaliland
19411950
Succeeded by:
Italian Somaliland somalo
Reason: return to Italy (in 1949)
Ratio: at par
Currency of Ethiopia
19411945
Succeeded by:
Ethiopian birr
Reason: (Ethiopia) independence
(Eritrea) federation with Ethiopia

Ratio: 1 birr = 2 shillings
Currency of Eritrea
19411952
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