“In Kenya, the history of trade is as old as the history of the people themselves. But the history of currency is not. Herein lies the story of that currency, a story of growth, a story of success and failure, but most importantly, a story of change and constant evolution.”
[SIZE=5]1. The Maria Theresa Thaler[/SIZE]
[FONT=trebuchet ms]Historical records point the first use of real currency in Kenya to The Maria Theresa Thalers which were introduced along the Kenyan Coast somewhere between 1800 and 1850.[/FONT]
[ATTACH=full]185678[/ATTACH]
[FONT=trebuchet ms]The Thaler was a trade coin originally struck in Austria in 1741. It was named after Empress Maria Theresa who ruled the Austrian empire from 1740 to 1780. Soon after its inception, the coin gained immense popularity and by the 19th century, it had supplanted the Spanish coin as the most widely circulated coin in the world.
It became prominent as a result of the thriving slave trade. The Thaler was able to spread along the East Coast of Africa, eventually reaching as far down along the coast as Maputo in southern Mozambique. However, having been in use only along the coast, the Thaler was never really able to penetrate into the interior and it would take a number of years before any other form of currency was able to do the same.[/FONT]
[SIZE=5]2. The East African Specie or Pice[/SIZE]
[FONT=trebuchet ms]In 1897, the leader of the British East African Protectorate (B.E.A.P), Harry Jackson, attempted to introduce a new currency known as the “Specie” or “Pice” into the region. Contrary to Jackson’s intent, the Specie never amounted to much and was promptly phased out by the Indian Rupee.[/FONT]
[FONT=trebuchet ms][SIZE=5]3. The Indian Rupee[/SIZE]
[ATTACH=full]185703[/ATTACH][ATTACH=full]185696[/ATTACH]
The Indian Rupee was the first currency to penetrate into the Kenyan interior and move as far up as British Ugandan territory. When the building of the railway begun in 1896, the Indian rupee was used as legal tender to pay railway workers.[/FONT]
[FONT=trebuchet ms]Indian labourers received approximately 30 rupees a month while a Swahili porter received 10 rupees a month with rations of flour, rice, a little meat and some oil. As a result of various trading activities between railway workers and the African population, the rupee gained rapid popularity in the interior. By 1905, it was made the official currency of the B.E.A.P. (Kenya- Uganda).[/FONT]
[FONT=trebuchet ms]Although an influx of Asian labour accompanied the construction of the railway, it was mainly as traders and business owners that the Asian community established themselves in the region. This gave rise to popular terms such as duka and dukawallah, used to refer to shops and shop keepers respectively.[/FONT]
[FONT=trebuchet ms][SIZE=5]4. East African Rupee[/SIZE]
The Indian Rupee was replaced by the East African Rupee. The government issued bank notes in denominations of 5, 10, 20, 40, 100 and 500 rupees .While coins were minted in denominations of 25, 50 and 1 cents.
[ATTACH=full]185692[/ATTACH][/FONT]
[FONT=trebuchet ms]The 1907 1 cent East African Rupee coin was the first aluminium coin in the world.[/FONT]
[FONT=trebuchet ms][ATTACH=full]185694[/ATTACH][/FONT]
[FONT=trebuchet ms][SIZE=5]5. The East African Florin[/SIZE]
Printed and minted by the newly established E.A Currency Board, the Florin replaced the East Africa Rupee and was used between 1920 and 1921. Coins were minted in denominations of 1, 5, 10, 25 and 50 cents. Due to the short period in which it was used, few of the coins minted were actually issued for circulation making the East African Florin one of the rarest coins to find.
[ATTACH=full]185699[/ATTACH][ATTACH=full]185700[/ATTACH]
The inscription reads GEORGEIVS V REX ET IND:IMP” (meaning “George V, King and Emperor of India”).[/FONT]
[FONT=trebuchet ms][SIZE=5]6. The East African Shilling[/SIZE]
The Florin was replaced by the E.A shilling which was introduced on January 1, 1922 in all the three East African countries. By June 1923, the E.A. shilling was established as the official currency in Kenya, Uganda and Tanganyika
[ATTACH=full]185698[/ATTACH]
A 1943 one East African Shilling BankNote
[ATTACH=full]185713[/ATTACH][/FONT]
[FONT=trebuchet ms]1958 5 & 20 shillings Banknotes bearing the portrait of Queen Elizabeth IIQueen Elizabeth 1958 notes
The E.A shilling remained in use for more than 4 decades upon which it was dropped in favor of individual state currencies at independence.[/FONT]
[FONT=trebuchet ms][SIZE=5]7. Lake Victoria Money[/SIZE]
In 1964 after Kenya, Uganda and Tanzania gained independence; interim currencies commonly known as ‘Lake Victoria Money’ were circulated within the region. The notes whose design featured a background of Lake Victoria were in the denominations of 5, 10, 20 and 100 shillings.
[ATTACH=full]185709[/ATTACH]
[ATTACH=full]185702[/ATTACH][/FONT]
[FONT=trebuchet ms]Notice the background of Lake Victoria that was a synonymous feature in all banknotes printed during that time. Since the currencies were used in all three countries , their designs did not feature any presidential portraits. A number of coins also known as ‘ Uhuru’ Coins were minted during this time.[/FONT]
[FONT=trebuchet ms]In 1966 the East African Currency Board collapsed and so did the East African Shilling. The Central Banks of Tanzania, Kenya, and Uganda came into existence and each country began minting her own currency. Although, independent shillings were introduced in the respective countries, the EA shilling was not demonetized until 1969.[/FONT]
[FONT=trebuchet ms][SIZE=5]8. The Kenyan Shilling[/SIZE]
The first Kenyan coinage issued in 1966 by the CBK was in denominations of 5, 10, 25 & 50 cents, and 1 & 2 shillings.
[ATTACH=full]185705[/ATTACH]
10 cents , 1 & 2 shilling coins issued in 1966[/FONT]
[FONT=trebuchet ms]While notes were issued in denominations of 5, 10, 20, 50 and 100 shillings.
[ATTACH=full]185706[/ATTACH][ATTACH=full]185707[/ATTACH][ATTACH=full]185693[/ATTACH][/FONT]
[FONT=trebuchet ms]Over time, the steady growth of the country and an inevitable change in economic times meant the face of Kenyan Currency would experience a number of changes. Where some denominations were introduced, some were demonetised, while others experienced simply but a change in form or appearance. None remained entirely the same.[/FONT]
[ul]
[li][FONT=courier new]25 cents coins were not minted after 1969.[/FONT][/li][li][FONT=courier new]2 shillings coins were last minted in 1971.[/FONT][/li][li][FONT=courier new]5 shillings coins were introduced in 1985.[/FONT][/li][li][FONT=courier new]10 shillings coins introduced in 1994.[/FONT][/li][li][FONT=courier new]20 shillings coins introduced in 1998.[/FONT][/li][li][FONT=courier new]200 shilling notes introduced in 1986.[/FONT][/li][li][FONT=courier new]500 shilling notes introduced in 1988.[/FONT][/li][li][FONT=courier new]1000 shilling notes introduced in 1994.[/FONT][/li][/ul]
[FONT=trebuchet ms]The portrait of the first president of Kenya, Jomo Kenyatta appeared on all of independent Kenya coins from 1967 to 1978.
Kenyatta 1966 CurrencyFrom 1980-2005 it was replaced by the portrait of second president, Daniel arap Moi.
[ATTACH=full]185711[/ATTACH]
Moi Currency 1980[/FONT]
[FONT=trebuchet ms]In 2005, the central bank introduced a new coin series that restored the portrait of Kenyatta. A new series of notes on which Kenyatta reappeared with denominations of 50, 100, 200, 500 and 1000 shillings were also circulated
[ATTACH=full]185708[/ATTACH]
Kenyatta 2005 Currency[/FONT]
[FONT=trebuchet ms]In commemoration of 40 years of independence in 2003, the CBK issued a bi- metallic 40 shilling coin with the portrait of President Kibaki. New 40 shilling coins with the image of President Kenyatta were issued in 2005.
[ATTACH=full]185701[/ATTACH]
The 2003, bi-metallic, 40 shilling coin[/FONT]
[FONT=trebuchet ms]10 years later, the commemoration of 50 years of independence was marked by a 50 shilling coin that was not released for circulation but was made available for purchase at the following rates:
[ATTACH=full]185704[/ATTACH][/FONT]
[ul]
[li][FONT=courier new]Gold Coin – KES.200,000[/FONT][/li][li][FONT=courier new]Gold plated silver coin – KES.10,000[/FONT][/li][li][FONT=courier new]Gold plated brass coin – KES.6,000[/FONT][/li][/ul]
[FONT=trebuchet ms]Citations
1. https://www.theeagora.com/evolution-of-currency-in-kenya/
2. Ctrl+C & V[/FONT]
Some more relatively relevant info about the History of Rupees as a currency in East Africa
[FONT=trebuchet ms]*When you listen to some older generation people, you may hear them refer to money as Rupia, from the coast to the interior, for instance in this ali kiba song Dushelele at 2:27, Rupia refers to money[/FONT]
https://www.youtube.com/watch?v=qHvcaRK548Q
[FONT=trebuchet ms]*My grandma kule ocha often referred to money as ziRubia. Even to this day, there is a significant number of people who use a variant of Rupee that is easy on their tongues. [/FONT]