| East African Shilling |
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Information AboutEast African Shilling |
| CATEGORIES ABOUT EAST AFRICAN SHILLING | |
| currencies of africa | |
| monetary unions | |
| east african community | |
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FIRST EAST AFRICAN SHILLING The East African shilling (XEAS) was intoduced 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 following the colonies' independence. 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 . 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. SEE ALSO REFERENCES |