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The East African shilling was the sterling unit of account in British -controlled areas of East Africa from 1921 until 1969. [1] It was issued by the East African Currency Board. It is also the proposed name for a common currency that the East African Community plans to introduce. The shilling was divided into 100 cents, and twenty shillings ...
These included the Somali shilling; the Italian East African lira; and the African franc (in Francophone countries). Many post-colonial governments have retained the name and notional value unit system of their prior colonial era currency. For example, the British West African pound was replaced by the Nigerian pound, which was divided into ...
P35. Blue-black on yellow and orange underprinting. March 31, 1953 – February 1, 1956. 100 shillings. 5 pounds. P36. Blue-black on green and lilac underprinting. For table standards, see the banknote specification table.
The East African shilling had itself been created in 1922 as a monetary unit out of the Indian rupee when the rising price of silver in the wake of the First World War caused the Indian rupees that circulated in British East Africa to rise in value to two shillings sterling. The East African shilling was launched at par with the shilling ...
The East African shilling became the money of account on 1 July 1942; it eventually became the sole legal tender and remained so until 1945. Regular notes of the East African Currency Board were used for circulation in Ethiopia. Second birr, 1945–present. The birr was reintroduced in 1945 at a rate of 1 birr per 2 shillings.
The East African Currency Board ( EACB) was established in 1919 to supply and oversee the currency of British colonies in British East Africa. It was established after Britain took control of mainland Tanzania from Germany at the end of World War I, and originally oversaw the territories of Uganda, Kenya, and Tanzania (excluding Zanzibar ).
East African florin. The Florin was the currency of the British colonies and protectorates of East Africa between 1920 and 1921. It was divided into 100 cents. It replaced the East African rupee at par, and was replaced in turn by the East African shilling at a rate of 2 shillings = 1 florin. The florin was equivalent to 2 shillings sterling .
The first Ugandan shilling (UGS) replaced the East African shilling in 1966 at par. Following high inflation, a new shilling (UGX) was introduced in 1987 worth 100 old shillings. The shilling is usually a stable currency and predominates in most financial transactions in Uganda, which has a very efficient foreign exchange market with low spreads.
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