East African shilling

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East African shilling
  • Shilingi ya Afrika Mashariki (Swahili)
  • Scellino dell'Africa orientale (Italian)
  • Shilinka Bariga Afrika (Somali)
  • شلنق شرق أفريقي (Arabic)
Unit
Symbol (none)
Denominations
Superunit
20 pound (£)
Subunit
1100 cent
Banknotes 5/=, 10/=, 20/=, 100/=, 200/=, 1000/=, 10000/=
Coins 1c, 5c, 10c, 50c, 1/=
Demographics
User(s)All in the 1900s:
Issuance
Central bank East African Currency Board
This infobox shows the latest status before this currency was rendered obsolete.

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.

Contents

The shilling was divided into 100 cents, and twenty shillings were 1 pound.

The old East African Shilling (left), East African Shilling (right) East African Shilling Map.png
The old East African Shilling (left), East African Shilling (right)

History

First East African shilling

Unlike elsewhere in the possessions of the British Empire that used the sterling, in British East Africa the shilling instead of the pound was the primary unit of account, with the pound being a superunit mainly used for recording very large sums of money that would be inconvenient if quoted solely in shillings.

This anomalous state of affairs arose because the first currency used by the British colonial authorities in British East Africa was the rupee, not sterling. 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 rupee, being a silver coin, rose in value against sterling. When it reached the value of two shillings, the authorities decided to replace it with the florin. From the florin thence came the East African shilling. The currency remained pegged to one shilling sterling and was subdivided into 100 cents. [2] [3] [4] In 1936, Zanzibar joined the currency board, and the Zanzibari rupee was replaced at a rate of 1/50 to 1 Zanzibari rupee. [3] It was replaced by local currencies (Kenyan shilling, Ugandan shilling, and Tanzanian shilling) following the territories' independence. [2] [3] [4]

In 1951, the East African shilling replaced the Indian rupee in the Aden colony and protectorate, which became the South Arabian Federation in 1963. In 1965, the East African Currency Board was breaking up, and the South Arabian dinar replaced the shilling in the South Arabian Federation at a rate of 20/= to 1 dinar. [1] [5]

The shilling was also used in parts of what is now Somalia, Ethiopia, and Eritrea when they were under British control. Before 1941, these areas, then known as Italian East Africa, used the Italian East African lira. In 1941, as a result of World War II, Britain regained control and introduced the shilling, at a rate of 1/= to 24 Lire. Italian Somaliland was returned to Italy in 1949 as a UN Trusteeship and soon switched to the somalo, which was at par with the shilling. British Somaliland gained independence in 1960, and joined what had been Italian Somaliland to create Somalia. In that year, Somalia began using the Somali shilling (replacing the Somali somalo) at par with the East African shilling. [6]

Ethiopia regained independence in 1941, with British support, and began using the East African shilling. Maria Theresa thalers, Indian rupees, and Egyptian pounds were also legal tender at the beginning of this time, and it is unclear exactly when this status ended. Full sovereignty was restored in late 1944, and the Ethiopian dollar was reintroduced in 1945 at a rate of $1 = 2/=. [7] Eritrea was captured from the Italians in 1941, and began using the East African shilling, as well as the Egyptian pound. The lira was demonetised in 1942. When Eritrea formed a federation with Ethiopia in 1952, the dollar, which was already in use in Ethiopia, was also adopted in Eritrea. [8]

Second East African shilling

A revived version of the currency has been proposed by the East African Community, which consists of Kenya, Tanzania, Uganda, Rwanda, Burundi, South Sudan, and the Democratic Republic of the Congo.

It had been proposed that the Second East African shilling would be introduced into circulation in 2012, but the target was not met. A second target date of 2015 was set, but that was not met either. The third target date is 2024. [9]

Coins

Issued during the reign of George V

Issued during the reign of George V
ImageValueCatalogue numberTechnical parametersDescriptionDatesRemarks
MassCompositionObverseReverse
1 centKM 22 Bronze "GEORGIVS V", "REX ET IND:IMP:", crown, value"EAST AFRICA", value, date1922-1935central hole
5 centsKM 181921-1936
10 centsKM 19
50 cents
12 shilling
KM 203.8879g25% silver "GEORGIVS V", "REX ET IND:IMP:", bust of George VDual value, "EAST AFRICA", lion in front of mountain, date1921-1924
1 shillingKM 217.7759gValue, "EAST AFRICA", lion in front of mountain, date1921-1925
For table standards, see the coin specification table.

Issued during the reign of Edward VIII

Issued during the reign of Edward VIII
ImageValueCatalogue numberCompositionDescriptionDatesRemarks
ObverseReverse
5 centsKM 23Bronze"EDWARDVS VIII", "REX ET IND:IMP:", crown, value"EAST AFRICA", value, date1936Central hole
10 centsKM 24
For table standards, see the coin specification table.

Issued during the reign of George VI

As GEORGIVS VI

Issued during the reign of George VI as GEORGIVS VI
ImageValueCatalogue numberTechnical parametersDescriptionDatesRemarks
MassCompositionObverseReverse
1 centKM 29Bronze"GEORGIVS VI", "REX ET IND:IMP:", crown, value"EAST AFRICA", value, date1942central hole
5 centsKM 251936central hole
KM 25.11937-1941central hole, thick flan
KM 25.21941-1943central hole, thin flan
KM 25.31942NO central hole, thin flan
10 centsKM 26.11937-1941some with central hole, some without, thick flan
KM 26.21942-1945central hole, thin flan
50 cents
12 shilling
KM 273.8879g25‰ silver"GEORGIVS VI", "REX ET INDIÆ IMPERATOR", bust of George VIDual value, "EAST AFRICA", lion in front of mountain, date1937-1944
1 shillingKM 28.17.7759gValue, "EAST AFRICA", lion in front of mountain, date1937-1944edge reeding spaced out
KM 28.21941rare, thicker rim, larger milling, minor design differences
KM 28.31942-1943retouched central image on reverse
KM 28.41944-1946same as KM 28.1 with edge reeding close
For table standards, see the coin specification table.

As GEORGIVS SEXTVS

Issued during the reign of George VI as GEORGIVS SEXTVS
ImageValueCatalogue numberCompositionDescriptionDatesRemarks
ObverseReverse
1 centKM 32Bronze"GEORGIVS SEXTVS REX", crown, value"EAST AFRICA", value, date1949-1952central hole
5 centsKM 331949-1952
10 centsKM 341949-1952
50 cents
12 shilling
KM 30 Cupronickel "GEORGIVS SEXTVS REX", bust of George VIDual value, "EAST AFRICA", lion in front of mountain, date1948-1952
1 shillingKM 31Value, "EAST AFRICA", lion in front of mountain, date1948-1952
For table standards, see the coin specification table.

Issued during the reign of Elizabeth II

Issued during the reign of Elizabeth II
ImageValueCatalogue numberCompositionDescriptionDatesRemarks
ObverseReverse
1 centKM 35Bronze"QUEEN ELIZABETH THE SECOND", crown, value"EAST AFRICA", value, date1954-1962central hole
5 centsKM 371955-1963
10 centsKM 381956-1964
50 cents
12 shilling
KM 36Cupronickel"QUEEN ELIZABETH THE SECOND", bust of Elizabeth IIDual value, "EAST AFRICA", lion in front of mountain, year of minting1954-1963
For table standards, see the coin specification table.

Issued after independence

Issued after independence
ImageValueCatalogue numberCompositionDescriptionDatesRemarks
ObverseReverse
5 centsKM 39Bronze"SENTI TANO", 5, "FIVE CENTS", "EAST AFRICA""EAST AFRICA", "5", date1964central hole
10 centsKM 40"SENTI KUMI", 10, "TEN CENTS", "EAST AFRICA""EAST AFRICA", "10", date1964
For table standards, see the coin specification table.

Krause, Chester L.; Clifford Mishler (2003). 2004 Standard Catalog of World Coins: 1901–Present. Colin R. Bruce II (senior editor) (31st ed.). Krause Publications. ISBN   0873495934.

Banknotes

In 1921, notes were issued by the East African Currency Board in denominations of 5/=, 10/=, 20/=, 100/=, 200/=, 1,000/= and 10,000/=, with the notes of 20 shillings and above also having the denominations expressed in pounds (£1, £5, £10, £50 and £500). In 1943, 1/= notes were issued, the only occasion that such notes were produced. 1,000/= notes were only issued until 1933, with 10,000/= notes last issued in 1947. The remaining denominations were issued until 1964.

Shilling denominations were written on banknotes in English, Arabic, and Gujarati, while values in pounds were written in English only.

See also

Related Research Articles

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<span class="mw-page-title-main">Shilling</span> Name for a coin or unit of currency

The shilling is a historical coin, and the name of a unit of modern currencies formerly used in the United Kingdom, Australia, New Zealand, other British Commonwealth countries and Ireland, where they were generally equivalent to 12 pence or one-twentieth of a pound before being phased out during the 1960s and 1970s.

<span class="mw-page-title-main">Rupee</span> Common name for several currencies

Rupee is the common name for the currencies of India, Mauritius, Nepal, Pakistan, Seychelles, and Sri Lanka, and of former currencies of Afghanistan, Bahrain, Kuwait, Oman, the United Arab Emirates, British East Africa, Burma, German East Africa, and Tibet. In Indonesia and the Maldives, the unit of currency is known as rupiah and rufiyaa respectively, cognates of the word rupee.

The British West Indies dollar (BWI$) was the currency of British Guiana and the Eastern Caribbean territories of the British West Indies from 1949 to 1965, when it was largely replaced by the East Caribbean dollar, and was one of the currencies used in Jamaica from 1954 to 1964. The monetary policy of the currency was overseen by the British Caribbean Currency Board (BCCB). It was the official currency used by the West Indies Federation The British West Indies dollar was never used in British Honduras, the Cayman Islands, the Turks and Caicos Islands, the Bahamas, or Bermuda.

<span class="mw-page-title-main">Australian pound</span> Former currency of Australia

The pound was the currency of Australia from 1910 until 14 February 1966, when it was replaced by the Australian dollar. Like other £sd currencies, it was subdivided into 20 shillings, each of 12 pence.

<span class="mw-page-title-main">Ugandan shilling</span> Currency of Uganda

The shilling is the currency of Uganda. Officially divided into cents until 2013, due to substantial inflation the shilling now has no subdivision.

<span class="mw-page-title-main">Somaliland shilling</span> Currency of Somaliland

The Somaliland shilling is the official currency of the Republic of Somaliland, an unrecognised sovereign state in the Horn of Africa, recognised internationally as de jure part of Somalia.

<span class="mw-page-title-main">Bahraini dinar</span> Currency of Bahrain

The dinar is the currency of Bahrain. It is divided into 1000 fils (فلس). The Bahraini dinar is abbreviated د.ب (Arabic) or BD (Latin). It is usually represented with three decimal places denoting the fils.

<span class="mw-page-title-main">Barbadian dollar</span> Currency of Barbados

The dollar has been the currency of Barbados since 1935. Globally its currency has the ISO 4217 code BBD, however, unofficially in Barbados the International vehicle registration code BDS is also commonly used, a currency code that is otherwise reserved for Bangladesh outside Barbados. As such the present Barbados dollar has the official ISO 4217 code of BB which matches the [dot] .bb Cc-TLD domain names classification for Barbados under ISO 3166, plus D for dollar in the foreign exchange market. The Barbadian dollar is considered as a currency which can be divided into 100 cents, though the 1 cent coin is in the process of being phased out. In terms of population, Barbados is the third smallest country in the world after Tonga and the Seychelles to have an independent currency and monetary policy.

<span class="mw-page-title-main">Somali shilling</span> Currency of Somalia

The Somali shilling is the official currency of Somalia. It is subdivided into 100 senti, cents (English) or centesimi (Italian).

Each "article" in this category is a collection of entries about several stamp issuers, presented in alphabetical order. The entries are formulated on the micro model and so provide summary information about all known issuers.

<span class="mw-page-title-main">British West African pound</span> Historical currency

The pound was the currency of British West Africa, a group of British colonies, protectorates and mandate territories. It was equal to one pound sterling and was similarly subdivided into 20 shillings, each of 12 pence.

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 rupee was the currency of Britain's East African colonies and protectorates between 1906 and 1920. It was divided into 100 cents.

<span class="mw-page-title-main">South African pound</span>

The pound was the currency of the Union of South Africa from the formation of the country as a British Dominion in 1910. It was replaced by the rand in 1961 when South Africa decimalised.

<span class="mw-page-title-main">Somalo</span> Currency of the Trust Territory of Somaliland

The Somalo was the currency of the Trust Territory of Somaliland administered by Italy between 1950 and 1960. The "Somalo" remained officially in use in the newly created Somali Republic until 1962. It was subdivided into 100 centesimi.

<span class="mw-page-title-main">Italian East African lira</span> Currency of Italian East Africa

The lira AOI was a special banknote circulating in Italian East Africa between 1938 and 1941.

<span class="mw-page-title-main">Canadian pound</span> Currency used in Canada (1841–1858)

The pound was the currency of the Canadas until 1858. It was subdivided into 20 shillings (s), each of 12 pence (d). In Lower Canada, the sou was used, worth 12 penny. Although the £sd accounting system had its origins in sterling, the Canadian pound was never at par with sterling's pound.

The history and development of British currency in the Middle East emerged from the 19th century. British involvement in the Middle East began with the Aden Settlement in 1839. The British East India Company established an anti-piracy station in Aden to protect British shipping that was sailing to and from India. The Trucial States were similarly brought into the British Empire as a base for suppressing sea piracy in the Persian Gulf. Involvement in the region expanded to Egypt because of the Suez canal, as well as to Bahrain, Qatar, and Muscat. Kuwait was added in 1899 because of fears about the proposed Berlin-Baghdad Railway. There was a growing fear in the United Kingdom that Germany was a rising power, and there was concern about the implications of access to the Persian Gulf that would arise from the Berlin-Baghdad Railway. After the First World War the British influence in the Middle East reached its fullest extent with the inclusion of Palestine, Transjordan and Iraq.

Prior to European colonization, early Aboriginal Australian communities traded using items such as tools, food, ochres, shells, raw materials and stories, although there is no evidence of the use of currencies.

References

  1. 1 2 "Global Financial Data currency histories table" . Retrieved 27 April 2007.
  2. 1 2 Schuler, Kurt. "Tables of Modern Monetary History: Kenya" . Retrieved 27 April 2007.
  3. 1 2 3 Schuler, Kurt. "Tables of Modern Monetary History: Tanzania" . Retrieved 28 May 2007.
  4. 1 2 Schuler, Kurt. "Tables of Modern Monetary History: Uganda" . Retrieved 27 April 2007.
  5. Schuler, Kurt. "Tables of Modern Monetary History: Asia" . Retrieved 27 April 2007.
  6. Schuler, Kurt. "Tables of Modern Monetary History: Somalia" . Retrieved 29 April 2007.
  7. Schuler, Kurt. "Tables of Modern Monetary History: Ethiopia" . Retrieved 29 April 2007.
  8. Schuler, Kurt. "Tables of Modern Monetary History: Eritrea" . Retrieved 29 April 2007.
  9. Asongu, Simplice; Nwachukwu, Jacinta; Tchamyou, Vanessa (1 August 2016). "A Literature Survey on Proposed African Monetary Unions" (PDF). Journal of Economic Surveys. 31 (3): 878–902. doi:10.1111/joes.12174. ISSN   1467-6419. S2CID   38454408.
The last issued 10,000/= note was dated 1 August 1951 but the high denomination note was used for clearing internally for many years after 1951.
Preceded by:
Indian rupee, Maria Theresa Thaler and other foreign currencies
Ratio: 1 shilling = 1 British shilling
Currency of Colony of Aden
1951 1963
Currency of Federation of South Arabia
1963 1965
Succeeded by:
South Yemeni dinar
Ratio: 1 dinar = 20 shillings = 1 British pound
Currency of Aden Protectorate
1951 1959
Currency of Federation of Arab Emirates of the South
1959 1963
Currency of remainder of Aden Protectorate
1959 1963
Note: throughout this time period, various states within the protectorate joined the federation
Currency of Protectorate of South Arabia
1963 1965
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 1969
Succeeded by:
Tanzanian shilling
Reason: currency independence
Ratio: at par
Note: independent shilling introduced in 1966, but EA shilling not demonetized until 1969
Preceded by:
East African florin
Ratio: 2 shillings = 1 florin = 2 British shilling
Currency of East Africa
(Kenya, Tanganyika, Uganda)
1921 various dates of independence
Currency of Kenya
1963 1969
Succeeded by:
Kenyan shilling
Reason: currency independence
Ratio: at par
Note: independent shilling introduced in 1966, but EA shilling not demonetized until 1969
Currency of Uganda
1962 1969
Succeeded by:
First Ugandan shilling
Reason: currency independence
Ratio: at par
Note: independent shilling introduced in 1966, but EA shilling not demonetized until 1969
Preceded by:
Italian East African lira
Reason: United Kingdom recaptured British Somaliland from Italy, and also occupied Italian East Africa
Ratio: 1 shilling = 24 lire = 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