The shilling is the currency of Uganda. Officially, the shilling is subdivided into 100 cents but no subdivisions have been issued since the revaluation of the shilling in 1987. The first Ugandan shilling (UGS) replaced the East African shilling in 1966 at par. Following high inflation, a new shilling (UGX) 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 United States dollar is also widely accepted. The pound sterling and increasingly the euro are also used.
Watermark: crested crane's head; electrotype 1000; cornerstones.
The Bank of Uganda launched new redesigned banknotes in May 2010. The present 1,000 and 5,000 Uganda Shilling notes have been given a makeover, incorporating not only the latest security features and arguably given the notes a longer life span through new production processes, but in addition, a new note with the value of 2,000 Uganda Shillings was also launched, which is equivalent to approximately US$1.
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 United States dollar is also widely accepted. The pound sterling and increasingly the euro are also used.
Obverse: Nyero rock paintings; coat of arms depicting spears; waves of Lake Victoria; the Sun; a traditional drum; crested crane; the Ugandan kob; river Nile; fertile land; coffee and cotton;
coat of arms of the Bank of Uganda
coat of arms of the Bank of Uganda
Reverse: equator; outline map of Uganda; antelopes Kudu; woman hoisting a baby in the air - National Independence Monument overlooking Speke Road and Nile Avenue in Kampala
Watermark: crested crane's head; electrotype 1000; cornerstones.
The Bank of Uganda launched new redesigned banknotes in May 2010. The present 1,000 and 5,000 Uganda Shilling notes have been given a makeover, incorporating not only the latest security features and arguably given the notes a longer life span through new production processes, but in addition, a new note with the value of 2,000 Uganda Shillings was also launched, which is equivalent to approximately US$1.
