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Ugandan shilling

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The 1000 shilling note depicts a farmer on one side and grain storage on the reverse

ISO 4217 Code UGX

User(s) Uganda

Inflation 8.1%

Source The World Factbook, 2005 est.

Subunit

1/100 cent

Symbol USh

Coins 1, 2, 5, 10, 50, 100, 200, 500 shillings

Banknotes 1000, 5000, 10000, 20000, 50000 shillings

Central bank

Bank of Uganda

Website www.bou.or.ug

The Ugandan shilling is the currency of Uganda. Its ISO 4217 currency code is UGX. Technically a shilling consists of 100 cents, but due to inflation this fact is effectively ignored.

The Ugandan shilling replaced the East African shilling in 1966 at par. Following high inflation, a new shilling was introduced in 1987 worth 100 old shillings.

The shilling is now a stable currency and predominates in most financial transactions in Uganda, which has a very efficient foreign exchange market with low spreads. The U.S. dollar is also widely accepted. The pound sterling and increasingly the euro are also used.

The notes in circulation within Uganda are the 50,000, 20,000, 10,000, 5000 and 1000 shilling notes. 200, 100 and 50 shilling coins are also used, as are 10 shilling coins which, although no longer produced, are still legal tender. 1, 2, 5 shilling coins were also minted during the new shilling changeover, and in that year only. In 2005, the Bank of Uganda was considering whether to replace the low value notes such as the 1000 shilling with coins. The lower denomination notes take a battering in daily use, often being very dirty and sometimes disintegrating.[1]

Current UGX exchange rates

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[edit] References

Ugandan shilling

Preceded by: East African shilling Reason: currency independence Ratio: at par	Currency of Uganda 1966 – 1987	Succeeded by: Ugandan new shilling Reason: inflation Ratio: 1 new shilling = 100 shillings

Ugandan new shilling

Preceded by: Ugandan old shilling Reason: inflation Ratio: 1 new shilling = 100 shillings	Currency of Uganda 1987 –	Succeeded by: Current

Currencies of Africa
North	Algerian dinar \| Euro (Plaza de soberanía) \| Egyptian pound \| Libyan dinar \| Mauritanian ouguiya \| Moroccan dirham \| Sudanese dinar \| Sudanese pound \| Tunisian dinar
Central	Angolan kwanza \| Burundian franc \| Central African CFA franc (Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea, and Gabon) \| Congolese franc \| Rwandan franc
West	Cape Verdean escudo \| Euro ( Canary Islands, Madeira) \| Gambian dalasi \| Ghanaian cedi \| Guinean franc \| Liberian dollar \| Nigerian naira \| São Tomé and Príncipe dobra \| Sierra Leonean leone \| West African CFA franc (Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo)
East	Comorian franc \| Djiboutian franc \| Eritrean nakfa \| Ethiopian birr \| Kenyan shilling \| Seychelles rupee \| Somali shilling \| Somaliland shilling \| Tanzanian shilling \| Ugandan shilling
South	Botswana pula \| Euro (Mayotte, Réunion) \| Lesotho loti \| Malawian kwacha \| Malagasy ariary \| Mauritian rupee \| Mozambican metical \| Namibian dollar \| Saint Helena pound \| South African rand \| Swazi lilangeni \| Zambian kwacha \| Zimbabwean dollar
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