Uganda Currency Info and Tips on obtaining good business travel Forex Rates.
Some currencies are more common than others with the Uganda Foreign Exchange Market.
Common International Currencies quoted on the Uganda Foreign Exchange Market include:
East African Currencies Commonly Quoted on the Uganda Foreign Exchange Market
There are five (5) common ways you can buy Uganda Currency
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
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.
In addition to the notes of 1000 and 5000 the following changes have been effected by the Bank of Uganda:
On 01 November, an upgraded 5,000-Shilling note with additional features was issued.
Commemorative Coins and Notes
Bank of Uganda has issued the following commemorative coins since 1966:
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.
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.
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.
We have put together two invaluable tools that will help you overcome all your Currency Conversion Dilemmas while on your Business Trip to Africa.
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. Open the Africa Uganda Business Travel Guide Currency Converter
Open the Africa Uganda Business Travel Guide Currency Converter
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:
You can get the Uganda Business Travel Currency CheatSheet with the exchange rate on any day since 1 January 1990 through 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.
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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...
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