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The East African shilling was introduced to Kenya, Tanganyika, and Uganda in 1921, replacing the short-lived East African florin at a rate of 2 shillings to 1 florin. The florin had been introduced because of increasing silver prices after World War I. At that time, the Indian rupee was the currency of the British East African states.
The East African Federation ( Swahili: Shirikisho la Afrika Mashariki) is a proposed political union of the eight sovereign states of the East African Community in the African Great Lakes region – Burundi, the Democratic Republic of the Congo, Kenya, Rwanda, South Sudan, Tanzania, Somalia and Uganda – as a single federated sovereign state. [6]
The East African Currency Board provided a common currency from 1919 to 1966. The customs union between Kenya and Uganda in 1917, which Tanganyika joined in 1927, was followed by the East African High Commission (EAHC) from 1948 to 1961, the East African Common Services Organization (EACSO) from 1961 to 1967, and the EAC from 1967 to 1977 ...
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 ).
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.
b Mauritius and the Seychelles are to the east and north-east of Madagascar respectively. East Africa Time, or EAT, is a time zone used in eastern Africa. The time zone is three hours ahead of UTC ( UTC+03:00 ), which is the same as Moscow Time, Arabia Standard Time, Further-eastern European Time and Eastern European Summer Time. [1]
The economy is managed by the central National Bank of Rwanda and the currency is the Rwandan franc; in June 2010, the exchange rate was 588 francs to the United States dollar. Rwanda joined the East African Community in 2007 and there were plans for a common East African shilling , which it had been hoped would be in place by 2015, [25] but ...
East Africa, also known as Eastern Africa or the East of Africa, is a region at the eastern edge of the African continent, distinguished by its geographical, historical, and cultural landscape. Defined in varying scopes, the region is recognized in the United Nations Statistics Division scheme as encompassing 18 sovereign states and 4 territories.