Kenyan shilling
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| Kenyan shilling | |||||
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| ISO 4217 Code | KES | ||||
|---|---|---|---|---|---|
| User(s) | Kenya | ||||
| Inflation | 9.3% | ||||
| Source | The World Factbook, 2007 est. | ||||
| Subunit | |||||
| 1/100 | cent | ||||
| Symbol | KSh | ||||
| Coins | |||||
| Freq. used | 50 cents, 1, 5, 10, 20, 40 shillings | ||||
| Rarely used | 5, 10 cents | ||||
| Banknotes | |||||
| Freq. used | 50, 100, 200, 500 and 1000 shillings | ||||
| Rarely used | 10, 20 shillings | ||||
| Central bank | Central Bank of Kenya | ||||
| Website | www.centralbank.go.ke | ||||
The shilling (ISO 4217 code: KES, also often used KSh) is the currency of Kenya. The Kenyan shilling replaced the East African shilling in 1966 at par.
As the Kenyan shilling is the most stable and strongest currency in east Africa, it is used outside the country mostly in unstable places like Somalia and southern Sudan and is favoured over the local currency.
Contents |
[edit] Coins
The first coins were issued in 1966 in denominations of 5, 10, 25 and 50 cents, 1 and 2 shillings. 25 cents coins were not minted after 1969, with 2 shillings coins last minted in 1971. In 1985, 5 shillings coins were introduced, followed by 10 shillings in 1994 and 20 shillings in 1998.
Between 1966 and 1978, the portrait of the first president of Kenya, Mzee Jomo Kenyatta, appeared on the obverse of all Kenya's coins. In 1980, this was replaced by a portrait of Daniel arap Moi until 2005, when a new coin series was introduced with the portrait of Kenyatta restored. The coins are 50 cents and 1 shilling in stainless steel and bi-metallic coins of 5, 10 and 20 shillings. A bi-metallic 40 shilling coin with the portrait of President Kibaki was issued in 2003 to commemorate the fortieth anniversary of independence (1963-2003).
[edit] Banknotes
In 1966, the Central Bank of Kenya issued notes in denominations of 5, 10, 20, 50 and 100 shillings. 5 shillings notes were replaced by coins in 1985, with the same happening to 10 and 20 shillings in 1994 and 1998. In 1986, 200 shillings notes were introduced, followed by 500 shillings in 1988 and 1000 shillings in 1994.
As with the coins, Mzee Jomo Kenyatta appeared on the banknotes issued until 1978, with Daniel arap Moi's portrait replacing him in 1980. In 2003, after Mwai Kibaki replaced Moi as president, 5, 10, and 20 shilling notes from the 1978 series with Kenyatta's picture that had been in storage were issued, and circulated for a time. A new series of notes was then introduced on which Kenyatta reappeared with denominations of 50, 100, 200, 500 and 1000 shilling. The issue of 12 December 2003 commemorates the "40 years of Independence 1963-2003". The banknotes are printed in Nairobi by De La Rue.
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[edit] See also
[edit] External links
- Don's World Coin Gallery - Kenya
- Ron Wise's World Paper Money - Kenya Mirror site
- Tables of Modern Monetary Systems by Kurt Schuler - Kenya Mirror site
- The Global History of Currencies - Kenya
- Global Financial Data currency histories table (
Microsoft Excel format)
| Preceded by: East African shilling Reason: currency independence Ratio: at par Note: independent shilling introduced in 1966, but EA shilling not demonetized until 1969 |
Currency of Kenya 1966 – |
Succeeded by: Current |
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