East African shilling
The East African shilling ( English : East African shilling ) was from 1921 to 1969, the currency of the British colonies in East Africa . It was issued by the East African Currency Board (EACB).
East African shilling is also the name that the East African Community (East African Community) for the planned common currency has provided.
history
First East African shilling
The East African Shilling was introduced in Kenya , Tanganyika (now mainland Tanzania ) and Uganda on January 1, 1921 , and was the official currency in June 1923. It replaced the short-lived East African florin at an exchange rate of 2 shillings = 1 florin. The currency was pegged to the pound sterling at a ratio of 20 shillings = 1 pound sterling. One shilling was divided into 100 cents. In 1936 Zanzibar joined the Currency Board and the Zanzibar rupee was replaced by the East African shilling at an exchange rate of 1.5 shillings = 1 Zanzibar rupee. In these countries, the East African Shilling remained legal tender until 1964.
The 5 and 10 cent coins of 1936 were the only coins in circulation in the Empire (apart from two Indian princely states ) that bore Edward VIII's signature .
After the defeat of Italy in World War II and the dissolution of Italian East Africa in 1941, the East African shilling was also used in parts of what is now Somalia , Ethiopia and Eritrea when they came under British control. Before 1941, the Italian East Africa lira was the currency. Italian Somaliland was returned to Italy in 1949 under UN trust and soon switched to Italian Somaliland Somalo , which corresponded to the value of the East African shilling. British Somaliland gained independence in 1960 and founded Somalia together with the former Italian Somaliland. Somalia introduced the Somalia shilling , which also corresponded to the value of the East African shilling.
With the help of the British, Ethiopia regained independence in 1941 and began to use the East African shilling. Maria Theresa thalers , Indian rupees and the Egyptian pound were initially other valid means of payment. After achieving full independence at the end of 1944, the Ethiopian birr was reintroduced in 1945 with an exchange rate of 1 birr = 2 shillings.
Eritrea's affiliation to Italy was ended in 1941 by Allied forces. The area was placed under British military administration and began to use the East African shilling and the Egyptian pound. The lira was withdrawn from circulation in 1942. In 1952 Eritrea formed a federation with Ethiopia and adopted the Ethiopian birr as its currency.
In 1951 the East African shilling replaced the Indian rupee in the colony of Aden , which in 1963 became the state of Aden within the South Arab Federation . With the collapse of the East African Currency Board in 1965, the shilling was replaced by the South Arabian dinar in the South Arabian Federation .
In the countries of East Africa, which then still used the East African shilling, it was replaced by the national currencies Kenya shilling , Uganda shilling and Tanzanian shilling after independence was achieved in 1964 .
Second East African shilling
The East African Community is planning a new edition of the East African Schilling. The East African shilling is said to become the common currency of Kenya, Tanzania, Uganda, Rwanda and Burundi . According to the latest studies, the official introduction is not expected before 2015.
Coins
1921, 5- and 10-cent hole coins from bronze , and 50-cent, and 1-Schilling hole coins of silver placed on the market, a bronze 1-cent coin followed hole 1922. silver in 1948 by copper nickel replaced. The last coins were produced in 1964 when the colonies gained independence.
Banknotes
The East African Currency Board issued banknotes with the denominations of 5, 10, 20, 100, 200, 1000 and 10,000 shillings in 1921 . The banknotes of 20 shillings and above also had their respective equivalent in pounds sterling (£ 1, £ 5, £ 10, £ 50 and £ 500) printed. In 1943, one-shilling banknotes were issued once. The 1000 shilling banknotes were issued until 1933 and the 10,000 shilling banknotes until 1947. The remaining face values were issued until 1964.
Individual evidence
- ↑ Global Financial Data - currency histories table ( Memento of the original from December 14, 2005 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. (XLS file, English) Retrieved November 27, 2009
- ↑ Central Bank of Kenya - History of Kenyan Currency ( Memento of the original dated February 4, 2010 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. (English) accessed on November 28, 2009
- ↑ Tables of Modern Monetary Systems by Kurt Schuler - Somalia ( page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. (English) accessed on November 28, 2009
- ↑ Tables of Modern Monetary Systems by Kurt Schuler - Ethiopia ( page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. (English) accessed on November 28, 2009
- ↑ Tables of Modern Monetary Systems by Kurt Schuler - Eritrea ( page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. (English) accessed on November 28, 2009
- ↑ Tables of Modern Monetary Systems by Kurt Schuler - Kenya ( Memento of the original from October 28, 2013 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. (English) accessed on November 28, 2009
- ↑ Tables of Modern Monetary Systems by Kurt Schuler - Tanzania ( page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. (English) accessed on November 28, 2009
- ↑ Tables of Modern Monetary Systems by Kurt Schuler - Uganda ( page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. (English) accessed on November 28, 2009
- ↑ TheEastAfrican.co.ke (English) accessed on January 24, 2010
