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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 ...
On 14 September 1966, the Kenyan shilling replaced the East African shilling at par, although the latter was not demonetised until 1969. The Central Bank of Kenya issued notes in denominations of 5/=, 10/=, 20/=, 50/= and 100/=. All of the notes feature a portrait of Kenya's first prime minister and president, Jomo Kenyatta, on the front and ...
The history of East Africa has been divided into its prehistory, the major polities flourishing, the colonial period, and the post-colonial period, in which the current nations were formed. East Africa is the eastern region of Africa, bordered by North Africa, Central Africa, Southern Africa, the Indian Ocean, and the Sahara Desert.
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 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 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.
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 ...
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