Money Notes, Quizzes & Revision

Money is anything that is generally accepted as a medium of exchange for goods and services

Money can be in form of notes and coins.

Uses of Money

1.As a medium of exchange

Money can be exchanges for another good or services because it is generally acceptable by everyone.

2.As a standard of deferred or future payment.

Money can be used to pay for goods or services at a later date.

This is known as deferred payment.

This is allowed because money is acceptable by everyone.

3.As a store of value

Money is used in storing wealth for example savings. Money stored or saved retains its value for many years.

4.As a measure of value

Money determines the worth and value of goods and services.

Expensive goods and services have a higher value than cheap goods and services.

5.As a unit of account.

Money makes accounting possible because the worth of goods and services are measure in money.

Different goods and services are calculated and recorded according to the money used to acquire them.

6.Transfer of immovable assets.

Some properties like land and buildings cannot be moved from one place to another but can sell them and use the money obtained to buy a land or a building in different place

Key security features of the Kenyan currency

The Kenyan money has the following security features which help the people of Kenya to identify real Kenya money from fake money.

1. The word Kenya can be felt on all the notes.
2. The value of each note can be felt.
3. At the edge of each note, there are a number of bars according to the value of the currency that is 1 bar for shs 50, 2 bars for shs 100, 3 bars for shs 200
4. There is a watermark of a perfect lion’s head, the text CBK and the value of the bank note in each note. A watermark can only be revealed when the note is held up against light.
5. The security thread appears as a continuous line.
6. The security thread colour from red to green on all banknotes. The 200, 500, 1000 notes have additional rainbow colours on the thread.
7. The golden band on the back of the notes show the value of each note

Themes and symbols on the Kenyan currency

• The Kenyan currency symbolises significant aspects of the nation which serve as a means of passing knowledge, conserving culture and promoting the country’s global image.
• The face of all notes bear the image of KICC, one of the most common and known landmark in our country. It also shows a photo of our founding first president .
• All the Kenyan currencies have symbols of Kenya “big five” animals such as lion. Leopard, rhino, giraffe and buffalo.
• Each note has a dove to symbolise a peaceful Kenya.
• All Kenyan currencies have the coats of arms. The coats of arms of Kenya features two lions, a symbol of protection, holding spears and traditional east African shiels. The shield and spears symbolises unity and defendefence of freedom.
• Each of the Kenyan currencies or notes symbolises various themes that promote different aspects of the country.
• The 50 shillings note symbolises the theme of green energy
• The 100 shillings note symbolises the theme of agriculture
• The 200 shillings note symbolises the theme of social services
• The 500 shillings note symbolises the theme of tourism
• The 1000 shillings note symbolises the theme of governance
• The coins continue to promote Kenya tourism sector by promoting Kenya’s famous animals that is elephant for ksh 20 coin, lion for ksh 10 coin, rhino for ksh 5 coin and giraffe for ksh 1 coin.