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Uganda Currency Info and Tips on obtaining good business travel Forex Rates.



New Uganda Legal Tender

The Uganda Currency in use is the shilling. As a Business Traveler your main concern is to know how you can obtain the Foreign Currency at a good rate to ease your business Transactions while in Uganda.

The Uganda Shilling is freely convertible to any foreign currency and vice verse because the country’s economic policy for current and capital accounts is fully liberalized.

On this page you will find information about the available Uganda Currency Denominations in Circulation and how you can detect Counterfeit Notes, history of the Uganda Shilling, Major international currencies available on the Uganda Foreign Exchange Market and where you can exchange your foreigncurrency for Uganda Shillings.

We have also included invaluable tools to help you convert your currency into Uganda Shillings so that you can budget and plan more accurately for your business trip to Africa as well as help you negotiate good rates for your Foreign Exchange Transactions.

Foreign Currencies in Uganda

Where to buy Uganda Currency

Uganda Currency Denominations

History of the Uganda Currency

Advanced Uganda Currency Converters

Uganda Forex News



Foreign Currencies in Uganda

Some currencies are more common than others with the Uganda Foreign Exchange Market.

Common International Currencies quoted on the Uganda Foreign Exchange Market include:

  • US Dollars
  • Euros
  • British Pound
  • Japanese Yen
  • Swiss Franc
  • Danish Krone
  • Norwegian Krone
  • Swedish Krone
  • Australian Dollar
  • Canadian Dollar
  • COMESA DOllar
  • South African Rand

East African Currencies Commonly Quoted on the Uganda Foreign Exchange Market

  • Kenya Shilling
  • Tanzanian Shillings

Tip:

If your currency is not among these common Currencies listed on the Uganda Foreign Exchange Market, you will save a lot of your money by first converting your local currency money into one of 3 Major Currencies, US Dollars , Euros or the British Pound, before you travel to Uganda.


Where to buy Uganda Currency

There are five (5) common ways you can buy Uganda Currency

  • Directly from Uganda Forex Bureaus:

    • Tip: Airport and Hotel forex bureaus usually have the relatively poor Exchange rates and you need to utilize them for just small transactions.

  • Directly from Uganda Commercial Banks

  • Using Uganda Money Transfer Service Organizations ( MoneyGram , Western Union )

  • From Bank of Uganda

    Although Bank of Uganda No longer sells Foreign Currency for Uganda Shillings. You can still walk into the Bank of Uganda counters and purchase Uganda Shilling for Memorial Purposes. Including Uganda shilling Coins and Notes that are no longer legal tender as well as commemorable coins and notes.

    In the Bank of Uganda Banking Hall you will have access to the Uganda Currency Museum where all the Uganda Currencies that have ever been issued are displayed.

  • Using your Credit Card.



Uganda Currency Denominations

The currency used in Uganda is the shilling.

Section 161 (1) of the Bank of Uganda Act (1993) mandates Bank of Uganda as the only authority mandated to issue Ugandan currency banknotes and coins as legal tender.Since its establishment in 1966, the Bank of Uganda has produced various issues of notes and coins ..more

Denominations

The currency now in circulation was issued in 1987. It had the following denominations:Notes of 5000,1000, 500,100,50,20,10 and 5 shillings and coins of 5 cents, 1 shilling and 2 shillings.

Demonetization of some notes

On December 31, 2000, notes of Uganda Shilling 5, 10, 20, 50, 100, 200 and 500 were demonetized and ceased to be legal tender.

They were replaced with coins of 5, 10, 20, 50, 100, 200 and 500 shillings.

New notes

In addition to the notes of 1000 and 5000 the following changes have been effected by the Bank of Uganda:

  • 1995 - a note of 10,000 was introduced.
  • 1999 - a note of 20,000 was introduced.
  • 2001 - On 10 December , a new note of 1,000-Shilling with additional security features was issued.
  • 2003 - On 01 December, a 50,000-Shilling note was issued.
  • 2004 - On 01 November, an upgraded 20,000-shilling note with additional security features was issued.


On 01 November, an upgraded 5,000-Shilling note with additional features was issued.

  • 2005 - On 20 June, Bank of Uganda issued a more enhanced 1,000-Shilling banknote.
  • 2006 - On 02 January, an upgraded 10,000 shilling Banknote was issued.
  • Current Denominations of Uganda currency
  • At present, coins of 1, 2, 5, 10, 50, 100, 200 and 500 shillings are in circulation.
  • And notes in circulation are in denominations of 1,000, 5,000, 10,000, 20,000 and 50,000.


Commemorative Coins and Notes

Bank of Uganda has issued the following commemorative coins since 1966:

  • 1968 - FAO Coin to mark the United Nations World Food Day with the theme 'Produce More Food'

  • 1969 - Pope Paul VI Coin issued to commemorate the Pope's visit to Uganda

  • 1981 - International Year of the Disabled Persons coin issued to educate the public about the rights, talents and needs of the disabled throughout the world

  • 1986 - Bank of Uganda 20 years of service coin issued to mark BOU's 20 years of service

  • 2006 - The Bank of Uganda 40 th anniversary commemorative coin issued in August

2007 - Shs. 10000 CHOGM note to mark Uganda's hosting the 2007 Commonwealth Head of Government Meeting issued on November 20 th. The note has special features both on the front and behind.



How to Detect fake Uganda Currency.

History of Uganda Currency

Uganda got its independence in 1962 from United Kingdom , which was its colonial power. The period immediately following independence witnessed relatively good macro-economic policies that led to economic growth and a highly active export sector.

The economy had adequate foreign Exchange reserves, healthy Balance of payments and Manageable external debt. At the time the East African shilling, which was the official currency for the Three(3) East African States ( Uganda, Kenya and Tanganyika), was attached to the British Pound in the East African Currency Board.

The shillings in circulation had the 100% barking of the foreign currency, the British Pound. At the time 1 Pound was freely convertible to 17 East African Shillings. After Independence, the three(3) countries that formed the East African currency board namely Uganda Kenya and Tanganyika each formed its own Central Bank. Bank of Uganda , Central Bank of Kenya and Bank of Tanzania. And hence begun printing their own currencies , and having separate Monetary policies.

The East African shilling therefore changed into the Uganda Shilling in the case of Uganda and Bank of Uganda became the issuing Authority.

Uganda currency was first issued on 15 August 1966 the day that Bank of Uganda opened.

Prior to 1966, Uganda was using the East African Currency . The East African currency notes continued to run side by side with Uganda currency until April 1967 when they ceased to be legal tender. However, the East African currency coins remained legal tender until April 1969.

Issues of Uganda Currency Since Establishment of Bank of Uganda in 1966

Uganda Currency has changed six times since 1966. The 1966, 1973, 1979, 1983 and 1986 issues followed the political changes in the country.

The 1987 issue has also undergone changes not related to political changes in the country but as an effort to reduce counterfeits as well as easing transactions .

The 1966 Issue

The 1966 currency had coins of:5 cents, 10 cents, 20 cents, 50 cents, 1 shilling, 2 shilling.

The notes were of 5 shillings, 10 shillings, 20 shillings, and 100 shillings

The Banknotes had a ‘palm’ watermark.

The 1973 Issue

In 1973, changes were made to the Banknotes. The denominations of the 1966 Issue were maintained, and a 50-shilling note was also issued. A portrait of the then President, Idi Amin was then introduced on the Banknotes.

The 1979 Issue

In 1979, slight changes to the currency were once again made. The same denominations as in the 1973 issue were maintained, but Amin’s portrait was replaced with an artist impression of the Bank of Uganda building.

The 1982/83 Issues In 1982 a new currency was issued. The same denominations as those of the 1979 issue were maintained. But, in 1983, denominations of 500 and 1000 Shillings notes were introduced, and had a portrait of the then President, Dr Apollo Milton Obote.

The 1985/1986 Issues In 1985/86, another issue of currency was made, and Obote’s portrait replaced with the National Emblem in the middle of the Map of Uganda. A new Banknote of 5000 was also introduced.

The 1987 Issue The legal tender was issued in 1987. It had only coins of 5 cents, 1 shilling and 2 shillings.



Uganda Currency Converting Tools

We have put together two invaluable tools that will help you overcome all your Currency Conversion Dilemmas while on your Business Trip to Africa.

  • Tool 1: CLASSIC UGANDA CURRENCY CONVERTER.

  • Tool 2: ADVANCED UGANDA BUSINESS TRAVEL CHEAT SHEET.



Uganda Currency Converter

The Uganda Currency Converter is a currency converter for over 164 currencies and 3 metals. It uses daily touchstone foreign exchange rates used by corporations, tax authorities, auditing firms, and financial institutions. These filtered rates are based on information supplied by leading market data contributors.

To convert your Currency to Uganda Shillings or any other currency, pleas follow the Instructions below.

  • In the left scrolling list, choose the exchange unit you want to convert from. Drag the scrolling arrows to scroll through all selections. (All exchange units are listed with the name of their country first. For example, the "UGX" for Uganda is listed as "Uganda Shilling. UGX")

  • In the right scrolling list, choose the exchange unit you want to convert to. Drag the scrolling arrows to scroll through all selections.

  • (Optional) To convert a specific amount, click over the text box next to the"Convert Amount" text and type the amount. The default is 1 unit.

  • (Optional) To convert using the historic rate for a particular date, type in the date using the displayed format.

  • (Optional) By default, the conversions use an interbank rate generally not available to the public. However, to avoid disappointment, choose a percentage add-on from the Interbank rate list to approximate the spread charged by your financial institution.

  • Click the "Convert Now" button to see the conversion.



Uganda Business Travel CHEAT SHEET

The Africa Uganda Business Travel guide CHEAT SHEET allows you to create and print a currency converter table for your next African trip.

To get a copy of your currency table:

  • select the date, currencies you wish to obtain and the rate you believe is most relevant to your needs.
  • Click on Get my FXCheatSheet to get a copy of your Uganda Business Travel CheatSheet.

You can get the Uganda Business Travel Currency CheatSheet with the exchange rate on any day since 1 January 1990 through today.

So, What's the Performance of the Uganda Shilling Today?

In this section of the Africa Uganda Forex guide we digest for you the latest business news stories about the performance of Uganda money.

Use the information in these Uganda Currency news stories to understand some of the real world dynamics of the Forex market in Africa.

You also have the opportunity to comment on each and every Forex news article posted on this page so that your opinion can be heard regarding the Uganda currency trends.

Send Your Comment about our Africa Uganda Forex News

Do you have a comment about any article on the Africa Uganda Forex Guide? Share it!

Enter Your Title

Daily Uganda Currency and Forex News with Comments From Other Visitors

Click the links below to see the full stories and contributions from other visitors to this page...

Uganda Central Bank Buys Dollars as Shilling Firms against the green bark  Not rated yet
15th-Dec-2011

Uganda's central bank was in the market early on Thursday, seeking to buy an unspecified amount of foreign exchange after the shilling ...

Uganda Shilling Gains but Exporters Not Impressed   Not rated yet
15-December-2011

Uganda Exporters are gnashing their teeth in frustration at the gains the Uganda Shilling has made against the US dollar in the past ...

East African Development Bank eyes lead role in regional Integration  Not rated yet
Tuesday, 1st November 2011

The East African Development Bank's (EADB) outlook is positive as it poised to tap into and be a key catalyst of opportunities ...

New Uganda Bank Lending Rates to affect old customers   Not rated yet
Thursday, 24th October 2011.

If you have a loan in any bank, get ready to dig deeper into your pockets because the banks have increased their lending ...

Uganda Inflation to drop 5 percent in 2013 - Central Bank  Not rated yet
Friday, 30th September, 2011

Headline inflation increased to 21.4% in August from 18.7% in July, the highest level in 18 years. Paul Busharizi and ...

Uganda inflation rate surges to 28.3 percent  Not rated yet
Friday, 30th September, 2011

Uganda's year-on-year inflation rate leapt to 28.3 percent in September from 21.4 percent a month earlier, the highest ...

Uganda Shilling remains weak against foreign currencies -27-Sept-2011  Not rated yet
Tuesday, 27th September, 2011

KAMPALA-The shilling slipped against the dollar on Monday, undermined by end-of-month greenback demand and the euro ...

Africa markets face tight liquidity  Not rated yet
Sunday, 25th September, 2011

JOHANNESBURG: A 12-year infrastructure bond is likely to be under subscribed at an auction in Kenya next week due to ...

Treasury Bill auction boosts Uganda shilling  Not rated yet
Thursday, 22nd September, 2011

A surge in inflows from offshore funds ahead of the yesterday’s Treasury Bills auction helped the Ugandan shilling ...

Uganda shilling slips, expected to gain ground in days ahead  Not rated yet
Wednesday, 21st September, 2011

The Uganda shilling sagged against the dollar yesterday, reflecting global worries about the euro zone debt. But traders ...

Uganda Sugar prices to reduce as imports arrive  Not rated yet
Tuesday, 20th September, 2011

Uganda Sugar prices are set to gradually fall starting this month as imported sugar floods the market, the trade ministry ...

Uganda Shilling gains slightly against US dollar  Not rated yet
Tuesday, 20th September, 2011

The Uganda shilling has appreciated against all the major traded currencies on the local foreign exchange market, holding ...

First batch of Uganda sugar imports here, export to Kenya suspected  Not rated yet
Thursday, 8th September, 2011



The first batch of sugar imports ordered by the Uganda Government to quell the sugar scarcity has entered the country....

Uganda Fuel prices inch higher, cap unlikely  Not rated yet
Thursday, 8th September, 2011

Uganda fuel prices continue to go up, reaching sh3,934 in the upscale areas of Kampala due to fluctuations in the value ...

Bank of Uganda raises lending rate to 16 percent  Not rated yet
Tuesday, 6th September, 2011

Uganda's central bank raised its benchmark lending rate (CBR) to 16 percent in September from 14 percent last month to ...

Uganda Shilling hovers on all-time low  Not rated yet
Friday, 2nd September, 2011

KAMPALA - The Ugandan shilling hovered just shy of its all-time low against the dollar yesterday as jitters over soaring ...

Uganda Inflation hits record high   Not rated yet
Thursday, 1st September, 2011


High food prices and the depreciation of the Uganda shilling have pushed Uganda's inflation for the year ended August ...

Dual Circulation of Uganda Bank Notes is not the Cause of Inflation  Not rated yet
Bank of Uganda wishes to respond to concerns from the public about the co-current circulation of the old and new series of banknotes and its relation to ...

Uganda shilling dips against US dollar  Not rated yet
Monday, 29th August, 2011

The Uganda shilling was weighed down on Friday by dollar demand notably from oil importers and manufacturers, and traders ...

Uganda Central Bank sells dollars, shilling firms  Not rated yet
Wednesday, 24th August, 2011

The Ugandan shilling recovered from early lows against the dollar on Wednesday after the Bank of Uganda stepped into ...

Bank of Uganda mop-up hikes loan charges  Not rated yet
Wednesday, 24th August, 2011

AN aggressive cash mop-up by the Central Uganda since the beginning of the year has had little effect on inflation so ...

Uganda shilling broadly steady  Not rated yet
Friday, 19th August, 2011


Tight liquidity and slow dollar demand kept the Ugandan shilling broadly steady on Friday although traders expect dollar ...

How the Uganda Construction sector is coping with the Depreciating Shilling  Not rated yet
Thursday, 18th August, 2011

The continuing depreciation of the Uganda shilling against the dollar is shaking up budgets of most companies.

The unit ...

Uganda Shilling steadies against major foreign currencies  Not rated yet
Wednesday, 17th August, 2011

KAMPALA-The shilling was barely moved against the dollar on Tuesday, with interbank demand for dollars seen sluggish,...

Uganda Commercial banks readjusting as BOU tightens monetary policy  Not rated yet
Monday August 15, 2011

Uganda Commercial banks are readjusting to remain relevant to customers with lending rates rising and the likelihood of loan ...

Uganda Central Bank acts as shilling nears 3000-mark  Not rated yet
Sunday, 14th August, 2011

The Uganda Central Bank sold an undisclosed amount of dollars to help the shilling rally against the greenback in the final ...

Bank Of Uganda sells dollars as shilling slides   Not rated yet
Friday, 12th August, 2011

UGANDA's central bank said on Friday it was in the local market to sell hard currency after the shilling fell to a new ...

Uganda shilling hits record low 11-AUG-2011  Not rated yet
Thursday, 11th August, 2011

By Macrines Nyapendi and Agencies

THE Uganda shilling extended its tumble for a sixth straight day to touch a new ...

Uganda shilling not world’s worst performer  Not rated yet
Tuesday, 9th August, 2011

Sunday Monitor claimed, in its front page article on August 7, that the “Uganda shilling is now the worst performing currency ...

Uganda shilling retreats back to 2,700 unfamiliar territory  Not rated yet
Tuesday, 9th August, 2011

THE shilling yesterday declined to trade at 2,710/2,745, breaking through its June 30 record low, weighed down by surging ...

Bank Of Uganda sells dollars to save shilling   Not rated yet
Friday, 5th August, 2011

The Uganda Central Bank yesterday sold an undisclosed amount of dollars in the foreign exchange market after the shilling ...

Paying the price for a shaky Uganda shilling  Not rated yet
Thursday, 4th August, 2011

THE turbulent exchange rate has pushed traders of imported goods to charge customers in dollars. The shift was pioneered ...

Uganda Central Bank Rate Up 14 percent  Not rated yet
Wednesday, 3rd August, 2011

The Bank of Uganda (BOU) has raised the Central Bank Rate (CBR) for August to 14%, from 13% in July. The move is expected ...

Uganda's inflation shoots to 18%  Not rated yet
Saturday July 30, 2011

Uganda's year-on-year inflation rate rose to 18.7 percent in July from 15.8 percent in June, the Uganda Bureau of Statistics ...

Corporate demand subdues Uganda shilling  Not rated yet
Friday, 22nd July, 2011

CORPORATE demand for dollars from the energy sector, with no supporting inflows, yesterday pushed the shilling to close lower ...

Uganda Shilling fights for own life  Not rated yet
Thursday July 21, 2011

KAMPALA-The shilling slipped against the dollar for a second straight session on thin volumes on Tuesday, but some traders said ...

Uganda shilling stable   Not rated yet
Tuesday July 12, 2011

KAMPALA, (Reuters) - Lower demand for dollars kept the Ugandan shilling flat for the third straight session on Tuesday but traders ...

Uganda Shilling stabilises against dollar  Not rated yet
Tuesday July 12, 2011

THE shilling was stable against the dollar on Monday amidst slow activity.

Traders said it could trade in a narrow range this ...

Uganda Government will not fix forex rate  Not rated yet
Tuesday July 12, 2011

The Government of Uganda cannot set a fixed exchange rate for purposes of tax collection, finance minister, Maria Kiwanuka said ...

Corporate demand for dollar pushes Uganda shilling to close week at 2,620  Not rated yet
Monday July 11, 2011

The shilling tumbled against the dollar having opened 2,510/20 to close 2,610/20 as demand for the US currency persists.

“The ...

Why the Uganda shilling is struggling  Not rated yet
Monday July 11, 2011

THE shilling fell to historic lows last week on a rumour that Central Bank boss Tumusiime Mutebile had handed in his resignation....

Ugandan President Speaks Out on Depreciating Shilling  Not rated yet
The President of Uganda speaks out on Uganda Economy amidst a depreciating Shilling

Uganda Central bank rate set at 13%  Not rated yet
Wednesday July 6, 2011

The Governor Bank of Uganda Emmanuel Tumusiime Mutebile has announced a 13% Central bank rate for July, the first in a series ...

Bank of Uganda postpones key interbank rate announcement  Not rated yet
Tuesday July 5, 2011

The Uganda Central Bank on Monday put off announcing its inaugural key rate and inflation target to finalise some technical issues,...

Uganda Shilling holding stronger position  Not rated yet
Tuesday, 5th July, 2011

The Ugandan shilling weakened slightly against the dollar on Tuesday but traders said low demand for the greenback should keep ...

Uganda Lending Rates set to rise again  Not rated yet
Monday July 4, 2011

The tight monetary stance being observed by the Bank of Uganda (BOU) is poised to push lending rates up, a top official said over ...

Bank of Uganda targets inflation in policy shift  Not rated yet
Friday June 24, 2011

Uganda will shift its monetary policy to target inflation rather than money supply growth and will launch a Central Bank interest ...

The Economics behind the depreciating Uganda Shilling   Not rated yet
Wednesday June 22, 2011

A weak currency tied with high global energy costs and rising inflation is pushing the costs of doing business, forcing businesses ...

Uganda Shilling Weakens to   Not rated yet
Wednesday, 15th June, 2011

THE Ugandan shilling weakened towards an all-time low yesterday, reacting to critical comments from the Central Bank chief ...

NGO inflows tame Uganda shilling free-fall  Not rated yet
Monday June 13, 2011

The Uganda shilling traded firmly against the greenback, but a tad weaker in 2392/2408 range during last week in a market characterized ...

Uganda Shilling unchanged for a week  Not rated yet
Monday June 6, 2011

THE shilling traded unchanged all week in 2389/2395 box, dealers said over the weekend.

“The currency pair lacked any significant ...

Uganda Shilling set to strengthen  Not rated yet
Wednesday June 1, 2011

The Ugandan shilling strengthened slightly against the dollar on Tuesday, a day before a bond auction that may bring foreign ...

Uganda Shilling may strengthen  Not rated yet
Saturday May 28, 2011

UGANDA'S shilling is likely to strengthen due to dollar flows from foreign investors interested in buying high-yielding government ...

Uganda Shilling strengths against the dollar  Not rated yet
Thursday May 26, 2011

The Uganda shilling traded flat yesterday, although some players said it may strengthen against the dollar in coming days due ...

Tullow Oil Uganda sues Heritage over $313m tax paid to govt  Not rated yet
Monday, 18th April, 2011

TULLOW Oil has dragged Heritage to court to recover the $313.45m paid to Uganda as capital gains tax on the pre-production ...

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