East African shilling

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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]

Contents 1 First East African Shilling 1.1 Coins 1.2 Banknotes 2 Second East African Shilling 3 See also 4 References 5 External links

[edit] First East African Shilling

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.

[edit] Coins

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.

[edit] Banknotes

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.

[edit] Second East African Shilling

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.

[edit] See also

• East African Community
• Currency Union
• Customs Union

[edit] References

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

[edit] External links

• East African Community

Preceded by: Indian rupee Ratio: 1 shilling = 1 British shilling	Currency of Protectorate of Aden 1951 – 1959	Currency of Federation of Arab Emirates of the South 1959 – 1962	Currency of Federation of South Arabia 1962 – 1965	Succeeded by: Yemeni dinar Ratio: 1 dinar = 20 shillings = 1 British pound
		Currency of remainder of Protectorate of Aden 1959 – 1962 Note: throughout this time period, various states within the protectorate joined the federation
	Currency of Colony of Aden 1951 – 1962
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, 1936 – 1964		Currency of Tanzania (formerly Tanganyika and Zanzibar) 1964 – 1966	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 1963 – 1966	Succeeded by: Kenyan shilling Reason: currency independence Ratio: at par
			Currency of Uganda 1962 – 1966	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 1941 – 1962			Succeeded by: Somali shilling Reason: independence as part of Somalia Ratio: at par
	Currency of Italian Somaliland 1941 – 1950			Succeeded by: Italian Somaliland somalo Reason: return to Italy (in 1949) Ratio: at par
	Currency of Ethiopia 1941 – 1945			Succeeded by: Ethiopian birr Reason: (Ethiopia) independence (Eritrea) federation with Ethiopia Ratio: 1 birr = 2 shillings
	Currency of Eritrea 1941 – 1952