Introduction of the Indian Rupee as currency for the East Africa Protectorate by the Imperial British East Africa Company
01.01.1899
Appointment of a currency Commissioner for the East Africa Protectorate and the confirmation of the Indian Rupee as currency
01.09.1905
Establishment of a Currency Commission for the East Africa and Uganda Protectorates and creation of the East African Rupee a distinct currency
01.05.1920
Establishment of the East African Currency Board and creation of the East African Florin as currency; local proclamation by ordinance [East Africa Currency Notes, No. 24] of ??.??.1920.
01.01.1922
Creation of the East African Shilling as currency; local proclamation by ordinance [Kenya Currency Notes (Amendment), No. 4] of ??.??.1922.
Time Period: 1966-
Currency: Kenyan Shilling
Transition
1 : 1 East African Shilling
Sub-units
Shilling / 100 Cents
ISO4217
KES
Timeline
24.03.1966
Law on the establishment of the central bank [Central Bank of Kenya Act, No. 15]; effective upon constitution of the bank on 14.09.1966
14.09.1966
Start of currency exchange: - 14.09.1966: Start of issuance of the new banknotes and coins - 13.09.1967: Demonetization of the East African currency, coins were tolerated until 10.04.1969.
Valuation Regimes
1966-1975
Fixed rate against US Dollar
1975-1982
Fixed rate against IMF Special Drawing Rights (SDR) unit
1982-
Variable rate
Rate Arrangements
14.09.1966
Fixed
US Dollar at 1 : 7.143 - [Gold parity] 124.41mg AU fine
±0.0%
09.05.1972
Fixed
US Dollar at 1 : 7.143 - [Gold parity] 114.59mg AU fine
±0.0%
19.02.1973
Fixed
US Dollar at 1 : 7.143 - [Gold parity] 103.13mg AU fine