The currency of Kenya is known as Kenya shillings. The Kenyan currency in short is also known as ‘kshs’. The currency of Kenya made its humble beginning in the mid nineteenth century with the usage of the Maria Theresa dollars in the coastal areas of the country. These Maria Theresa dollars were fabricated in Ethiopia which via the Indian and Greek merchants made its way to the country of Kenya. The money of Kenya witnessed further change with the coming of Indian workers in the country. The workers who had come from another British colony, India, got payment if Indian rupee thus the name ‘Rupia’ was assigned to the Kenyan currency. This currency during the nineteenth century was also known as Pesa. These silver coins called the rupees were minted in the mints of India.
The Kenyan administration understood the problem that the Kenya needed its very own currency and thought of introducing certain changes. The new currency called ‘pice’ and ‘specie’ was introduced by a leader but the effort did not succeed. Thus in 1905 the official recognition was given to the Indian rupee as the currency of Kenya. The rupee was divided into cents where 100 cents stood for one rupee. But in 1920 with the formation of the East African protectorate Indian rupee lost its significance. The new currency called the East Indian Protectorate Rupee, East African florin and East African Shilling came into existence. This currency was replaced by the Kenya shilling after the independence of Kenya in 1966.
Presently the exchange rate of Kenya shilling is:
- 1 US dollars to 73 Kshs
- 1 Great Britain pound to 135 Kshs
The government has ensured incredible amount of protection to prevent counterfeiting and the both Kiswahili and English depicts the denomination of the currency.
