Kenyan shilling

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Kenyan shilling
Shillingi ya Kenya (Swahili)
Kenyan 20 Shilling Note.jpgKSh10b.JPG
20 shillings (1994), portrait of Daniel arap Moi10 shilling coin
ISO 4217 codeKES
Central bankCentral Bank of Kenya
 Websitewww.centralbank.go.ke
User(s) Kenya
Inflation3.2%
 SourceKenya National Bureau of Statistics, as of June 2010.
Subunit
 1/100cent
SymbolKSh
Coins
 Freq. used1, 5, 10 , 20, 40 shillings
 Rarely used50-cents
Banknotes
 Freq. used50, 100, 200, 500 and 1000 shillings
 Rarely used10, 20 shillings
 
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Kenyan shilling
Shillingi ya Kenya (Swahili)
Kenyan 20 Shilling Note.jpgKSh10b.JPG
20 shillings (1994), portrait of Daniel arap Moi10 shilling coin
ISO 4217 codeKES
Central bankCentral Bank of Kenya
 Websitewww.centralbank.go.ke
User(s) Kenya
Inflation3.2%
 SourceKenya National Bureau of Statistics, as of June 2010.
Subunit
 1/100cent
SymbolKSh
Coins
 Freq. used1, 5, 10 , 20, 40 shillings
 Rarely used50-cents
Banknotes
 Freq. used50, 100, 200, 500 and 1000 shillings
 Rarely used10, 20 shillings

The shilling (sign: KSh; code: KES) is the currency of Kenya. It is divisible into 100 cents.

Exchange rate[edit]

The exchange rate of Kenya shilling slumped dramatically in mid-2011, from about 83 shillings per US dollar to about 100 shillings per US dollar at late 2011. The Central Bank of Kenya shifted its target to tighten liquidity, including increasing interest rate and money market operations. But expected inflows due to tea export drove up the exchange rate to about 84 shillings per US dollar on 31 January 2012.[1]

Current KES exchange rates
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From OANDA.com:AUD CAD CHF EUR GBP HKD JPY USD
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History[edit]

The Kenyan shilling replaced the East African shilling in 1966 at par.

Coins[edit]

A 40 Kenyan shilling coin, issued on the occasion of the 40th Anniversary of the independence of the Republic of Kenya.

The first coins were issued in 1966 in denominations of 5, 10, 25 and 50 cents, and 1 and 2 shillings; 25-cent coins were not minted after 1969 (except in the 1973 set); 2-shilling coins were last minted in 1971 (except in the 1973 set). In 1973 and 1985, 5-shillings coins were introduced, followed by 10-shillings in 1994 and 20-shillings in 1998.

Between 1967 and 1978, the portrait of Jomo Kenyatta, the first president of Kenya, originally appeared on the obverse of all of independent Kenya's coins. In 1980, a portrait of Daniel arap Moi replaced Kenyatta until 2005, when the central bank introduced a new coin series that restored the portrait of Kenyatta. The coins are 50 cents and 1 shilling in stainless steel and bi-metallic coins of 5, 10 and 20 shillings.

A bi-metallic 40-shilling coin with the portrait of President Kibaki was issued in 2003 to commemorate the fortieth anniversary of independence (1963–2003). New coins with the image of Kenyatta were issued in 2005. In 2010, Section 231(4) of the 2010 Constitution of Kenya stated "Notes and coins issued by the Central Bank of Kenya may bear images that depict or symbolise Kenya or an aspect of Kenya but may not bear the portrait of any individual." New banknotes and coins are scheduled to be released to meet up with this new law.[2]

Banknotes[edit]

On 14 September 1966, the Kenyan shilling replaced the East African shilling at par, although the latter was not demonetised until 1969. The Central Bank of Kenya issued notes in denominations of 5, 10, 20, 50 and 100 shillings. All of the notes feature a portrait of Kenya's first prime minister and president, Mzee Jomo Kenyatta, on the front and diverse economic activities on the back.[3]

5 shillings notes were replaced by coins in 1985, with the same happening to 10 and 20 shillings in 1994 and 1998. In 1986, 200 shillings notes were introduced, followed by 500 shillings in 1988 and 1000 shillings in 1994.

As with the coins, Mzee Jomo Kenyatta appeared on the banknotes issued until 1978, with Daniel arap Moi's portrait replacing him in 1980. In 2003, after Mwai Kibaki replaced Moi as president, 5, 10, and 20 shilling notes from the 1978 series with Kenyatta's picture that had been in storage were issued, and circulated for a time. A new series of notes was then introduced on which Kenyatta reappeared with denominations of 50, 100, 200, 500 and 1000 shilling. The issue of 12 December 2003 commemorates the "40 years of Independence 1963–2003". The banknotes are printed in Nairobi by De La Rue.

Banknotes of the Kenyan shilling (1996 "Arap Moi" issue)
ValueObverseReverseWatermark
20 shillings (Shilingi Ishirini)President Daniel Toroitich arap Moi; Coat of arms of KenyaBaton; Moi International sports complex, Nairobi, joggerLion's head
50 shillings (Shilingi Hamsini)President Daniel Toroitich arap Moi; Coat of arms of KenyaCaravan; monument in MombasaLion's head
100 shillings (Shilingi Mia Moja)President Daniel Toroitich arap Moi; Coat of arms of KenyaMonument to the 25th anniversary of independence, NairobiLion's head
200 shillings (Shilingi Mia Mbili)President Daniel Toroitich arap Moi; Coat of arms of KenyaUnity monument, NairobiLion's head
500 shillings (Shilingi Mia Tano)President Daniel Toroitich arap Moi; Coat of arms of KenyaParliament building, NairobiLion's head
1000 shillings (Shilingi Elfu Moja)President Daniel Toroitich arap Moi; Coat of arms of KenyaElephantsLion's head
Banknotes of the Kenyan shilling (2004 "Jomo Keyatta" issue (current issue))
ValueObverseReverseWatermark
50 shillings (Shilingi Hamsini)President Mzee Jomo Kenyatta; Coat of arms of KenyaCaravan; monument in MombasaLion's head and electrotype 50
100 shillings (Shilingi Mia Moja)President Mzee Jomo Kenyatta; Coat of arms of KenyaKenyatta statue; towerLion's head and electrotype 100
200 shillings (Shilingi Mia Mbili)President Mzee Jomo Kenyatta; Coat of arms of KenyaCotton harvestLion's head and electrotype 200
500 shillings (Shilingi Mia Tano)President Mzee Jomo Kenyatta; Coat of arms of KenyaParliament building, NairobiLion's head and electrotype 500
1000 shillings (Shilingi Elfu Moja)President Mzee Jomo Kenyatta; Coat of arms of KenyaElephantsLion's head and electrotype 1000

See also[edit]

References[edit]

  1. ^ [1]
  2. ^ The Constitution of Kenya of 2010; Section 231(4) on the Central Bank of Kenya World Intellectual Property Organization (www.wipo.int). Retrieved on 2013-09-27.
  3. ^ Linzmayer, Owen (2012). "Kenya". The Banknote Book. San Francisco, CA: www.BanknoteNews.com. 

External links[edit]

Preceded by:
East African shilling
Reason: currency independence
Ratio: at par
Note: independent shilling introduced in 1966, but EA shilling not demonetised until 1969
Currency of Kenya
1966 –
Succeeded by:
Current