President Kenyatta has today officiated the launch of the new generation currency at the Central Bank of Kenya in line with the 2010 constitution.
“I am extremely pleased that today we can achieve yet another milestone, launching the family of new generation coins,” President Kenyatta said.
According to the Central Bank of Kenya Act, it is illegal to have the portrait of an individual on notes and coins that are used as Kenyan currency.
The Act states that: “Notes and coins issued by the Central Bank of Kenya may bear images that depict or symbolize Kenya or an aspect of Kenya but shall not bear the portrait of any individual.”
According to the CBK, the current currency will be withdrawn in phases, even as the new currency is introduced.
This marks a great milestone in the Kenya history having that the currency not only gives a new look but also contributes to promoting Kenyan Global Uniqueness.
In the New Generation Coins launched by the President, the portraits have been replaced by the symbols of the big five animals.
The evolution of the coinage in the country has led to Kenyans embracing the culture and economic values and this new currency is of great significance to the nation.
The new coins will serve as a means of passing knowledge conserving culture and promoting global uniqueness.
CBK Governor, Patrick Njoroge said that by engraving selected images on the coinage this will create awareness of our country and its characteristics will be revitalized giving physical expression to a newly reborn and prosperous Kenya.
So, how does the new look Kenyan currency compare with the strongest currencies in Africa?
Kenya has unveiled new-look currency that features new images that depict the country’s unique resources.
According to information by the pulse.ng magazine, we see the ranking of the new Kenyan currency compared with the strongest African currencies.
Here are the top seven strongest currencies in Africa:
One (1) Libyan Dinar is equal to 73.29 Kenyan Shilling. One US dollar is equal to 1.39 Libyan Dinar.
The Tunisian Dinar is the second most valuable currency in Africa. One Tunisian Dinar is equal to Ksh35 and compared to the US dollar one dollar is equal to 2.93 Tunisian Dinar.
Thanks to a growing and well-managed economy, Ghanaian Cedis is the third strongest currency in Africa. One Ghanaian Cedis exchanges for 21.22 Kenyan Shilling.
One Moroccan Dirham is equal to about ten Kenyan shilling, currently one Moroccan Dirham exchanges for Ksh10.83. 1USD is equal to 16.2Mad.
One needs to have at least Ksh8.32 to exchange for just one Botswana Pula. On the other hand 10.8 Botswana Pula is exchanged for one dollar.
Considered one of the valuable currencies in southern Africa, one Zambian Kwacha is equal to 8.60 Kenyan shilling. One dollar is equal to 11.92 Kwacha.
South African Rand
Currently, one South African Rand exchanges for 7.16 Kenyan Shilling. Against the dollar, 14.32 South African Rand equals one dollar.
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