Ugandan shilling

Short description: Currency of Uganda

Template:For-text

Ugandan shillingshilingi ya Uganda (Swahili)

Obverse of the Template:Shilingi note

ISO 4217
Code| UGX (numeric: 800)
Unit
Unit| shilling
Plural| shillings
Denominations
Banknotes| Template:Shilingi, Template:Shilingi, Template:Shilingi, Template:Shilingi, Template:Shilingi, Template:Shilingi
Coins|
Freq. used| Template:Shilingi, Template:Shilingi, Template:Shilingi, Template:Shilingi
Rarely used| Template:Shilingi
Demographics
User(s)|  Uganda
Issuance
Central bank| Bank of Uganda
Website| www.bou.or.ug
Valuation
Inflation| 4.7%
Source| The World Factbook, 2014 est.

The shilling (Swahili: shilingi; abbreviation: USh; ISO code: UGX) is the currency of Uganda. Officially divided into cents until 2013, due to substantial inflation the shilling now has no subdivision.[1]

## Contents

* 1 Notation
* 2 History
* 3 Coins
* 3.1 First shilling
* 3.2 Second shilling
* 4 Banknotes
* 4.1 First shilling
* 4.2 Second shilling
* 4.3 Current notes
* 5 Exchange rates
* 6 See also
* 7 References

## Notation

Sign in Kisoro with prices in Ugandan shillings; note the use of the '/=' symbol.

Prices in the Ugandan shilling are written in the form of `x/y`, where x is the amount in shillings, while y is the amount in cents. An equals sign or hyphen represents zero amount. For example, 50 cents is written as "Template:Shilingi" and 100 shillings as "Template:Shilingi" or "100/-". Sometimes the abbreviation USh is prefixed for distinction. If the amount is written using words as well as numerals, only the prefix is used (e.g. USh 10 million).

This pattern was modelled on sterling's pre-decimal notation, in which amounts were written in some combination of pounds (£), shillings (s), and pence (d, for denarius). In that notation, amounts under a pound were notated only in shillings and pence.

## History

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 usually 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. Sterling and increasingly the euro are also used.

The Bank of Uganda cut its policy rate to 22% on 1 February 2012 after reduction of inflation for 3 consecutive months.[2]

## Coins

### First shilling

In 1966, coins were introduced in denominations of Template:Shilingi, Template:Shilingi, Template:Shilingi and Template:Shilingi and Template:Shilingi and Template:Shilingi. The Template:Shilingi, Template:Shilingi and Template:Shilingi coins were struck in bronze, with the higher denominations struck in cupro-nickel. The 2-shilling was only issued that year. In 1972, cupro-nickel 5-shilling coins were issued but were withdrawn from circulation and are now very rare. In 1976, copper-plated steel replaced bronze in the 5- and 10-cent and cupro-nickel-plated steel replaced cupro-nickel in the 50-cent and 1-shilling. In 1986, nickel-plated-steel 50-cent and 1-shilling coins were issued, the last coins of the first shilling.

First Ugandan shilling coins

Image | Value | Composition | Diameter | Weight | Thickness | Edge | Issued
100px  | Template:Shilingi | bronze | 20 mm  | 3.21 g  | 1.38 mm  | Smooth  | 1966–1975
| Template:Shilingi | bronze-plated steel  | 20 mm  | 3.21 g  | 1.2 mm  | Smooth  | 1976
100px  | Template:Shilingi | bronze | 25 mm  | 5 g  | 1.5 mm  | Smooth  | 1966–1975
| Template:Shilingi | bronze-plated steel  | 25 mm  | 4.5 g  | 1.5 mm  | Smooth  | 1976
100px  | Template:Shilingi | bronze | 28 mm  | 9.76 g  | 2.07 mm  | Smooth  | 1966–1974
| Template:Shilingi | copper-nickel  | 22 mm  | 4.60 g  | 1.5 mm  | Reeded  | 1966–1974
| Template:Shilingi | copper-nickel-plated steel  | 22 mm  | 4 g  | 1.5 mm  | Reeded  | 1976
| Template:Shilingi | copper-nickel  | 25.5 mm  | 6.50 g  | 1.5 mm  | Reeded  | 1966–1975
| Template:Shilingi | copper-nickel-plated steel  | 25.5 mm  | 6.50 g  | 1.5 mm  | Reeded  | 1976
200px  | Template:Shilingi | copper-nickel  | 30 mm  | 11.7 g  | 1.5 mm  | Reeded  | 1976
| Template:Shilingi | copper-nickel  | 30 mm (heptagonal)  | 13.5 g  | 2 mm  | Smooth  | 1976

### Second shilling

In 1987, copper-plated-steel Template:Shilingi and Template:Shilingi and stainless-steel Template:Shilingi and Template:Shilingi coins were introduced, with the Template:Shilingi and Template:Shilingi curved-equilateral heptagonal in shape. In 1998, coins forTemplate:Shilingi, Template:Shilingi, Template:Shilingi and Template:Shilingi were introduced. Denominations currently circulating are Template:Shilingi, Template:Shilingi, Template:Shilingi, Template:Shilingi, and Template:Shilingi.[3]

Second Ugandan shilling coins

Image | Value | Composition | Reverse design | Diameter | Weight | Thickness | Edge | Issued
| Template:Shilingi | Nickel-plated Steel  | Ankole-Watusi  | 21 mm  | 3.9 g  | 1.8 mm  | Smooth  | 1998–2015
| Template:Shilingi | Copper-nickel  | 27 mm  | 7 g  | 1.73 mm  | Reeded  | 1998–2008
| Nickel-plated Steel  | 27 mm  | 6.6 g  | 1.73 mm  | Reeded  | 2007–2022
| Template:Shilingi | Copper-nickel  | Nile perch | 25 mm  | 8.5 g  | 2.05 mm  | Smooth  | 1998–2003
| Nickel-plated Steel  | 25 mm  | 7.25 g  | 2.05 mm  | Smooth  | 2007–2022
| Template:Shilingi | Aluminum-brass | East African crowned crane  | 23.5 mm  | 9 g  | 2.9 mm  | Reeded  | 1998–2022
| Template:Shilingi | Bi-Metallic nickel-brass plated nickel center in nickel-brass ring  | 27 mm  | 10.25 g  | 3 mm  | Reeded  | 2012

## Banknotes

### First shilling

In 1966, the Bank of Uganda introduced notes in denominations of Template:Shilingi, Template:Shilingi, Template:Shilingi and Template:Shilingi. In 1973, Template:Shilingi notes were introduced, followed by Template:Shilingi and Template:Shilingi in 1983 and Template:Shilingi in 1985.[citation needed]

### Second shilling

In 1987, notes were introduced in the new currency in denominations of Template:Shilingi, Template:Shilingi, Template:Shilingi, Template:Shilingi, Template:Shilingi and Template:Shilingi. In 1991, Template:Shilingi and Template:Shilingi notes were added, followed by Template:Shilingi in 1993, Template:Shilingi in 1995, Template:Shilingi in 1999, Template:Shilingi in 2003 and Template:Shilingi in 2010. Banknotes currently in circulation are 1,000Template:Shilingi, 2,000Template:Shilingi, Template:Shilingi, Template:Shilingi, Template:Shilingi and Template:Shilingi. In 2005, the Bank of Uganda was considering whether to replace the low-value notes such as the Template:Shilingi with coins. The lower denomination notes take a battering in daily use, often being very dirty and sometimes disintegrating.[4]

On 17 May 2010, the Bank of Uganda issued a new family of notes featuring a harmonised banknote design that depict Uganda's rich historical, natural, and cultural heritage. They also bear improved security features. Five images appear on all the six denominations: Ugandan mat patterns, Ugandan basketry, the map of Uganda (complete with the equator line), the Independence Monument, and a profile of a man wearing Karimojong headdress. Bank of Uganda Governor Emmanuel Tumusiime Mutebile said the new notes did not constitute a currency reform, nor were they dictated by politics. The redesign, he said, was driven by the need to comply with international practices and to beat counterfeiters. Uganda is the first African country to introduce the advanced security feature SPARK[5] on a regular banknote series. SPARK is an optical security feature recognised by central banks worldwide and is used on a number of banknotes for protection against counterfeiting.

### Current notes

As of April 2023, these are the Ugandan shilling banknotes in circulation:[6]

* 50,000/= yellow [7]
* Template:Shilingi red
* Template:Shilingi purple
* Template:Shilingi green
* Template:Shilingi blue
* Template:Shilingi brown

## Exchange rates

Current UGX exchange rates

From Google Finance:  | AUD CAD CHF CNY EUR GBP HKD JPY USD KYS ZAR
From Yahoo! Finance:  | AUD CAD CHF CNY EUR GBP HKD JPY USD KYS ZAR
From XE.com:  | AUD CAD CHF CNY EUR GBP HKD JPY USD KYS ZAR
From OANDA:  | AUD CAD CHF CNY EUR GBP HKD JPY USD KYS ZAR

## See also

* Economy of Uganda
* Kenyan shilling
* Tanzanian shilling

## References

1. ↑ "UGX (Ugandan Shilling) Definition and History". https://www.investopedia.com/terms/forex/u/ugx-uganda-shilling.asp.
2. ↑ "Uganda shilling little changed but seen weakening". Reuters. https://news.yahoo.com/uganda-shilling-little-changed-seen-weakening-104203330.html.
3. ↑ "Currency – Bank of Uganda". Bank of Uganda. https://www.bou.or.ug/bou/bouwebsite/BankingandCurrency/currency.html.
4. ↑ "Choose sh1000 coins". https://www.newvision.co.ug/new_vision/news/1128188/choose-sh1000-coins.
5. ↑ "SPARK trademark registration". http://www.trademarkia.com/spark-79023576.html.
6. ↑ "Currency". Bank of Uganda. https://www.bou.or.ug/bou/bouwebsite/BankingandCurrency/currency.html.
7. ↑ "Uganda's 50,000 Shilling note". International Banknote Society. https://www.theibns.org/joomla/index.php?option=com_content&view=article&id=217:uganda-50000-shilling-note&catid=13&Itemid=6.

* Krause, Chester L.; Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed.). Krause Publications. ISBN 0873411501.
* Pick, Albert (1994). Standard Catalog of World Paper Money: General Issues (7th ed.). Krause Publications. ISBN 0-87341-207-9.

First Ugandan shilling Preceded by:
East African shilling
Reason: currency independence
Ratio: at par
Note: independent shilling introduced in 1966, but EA shilling not demonetised until 1969 | Currency of Uganda
1966 - 1987  | Succeeded by:
Second Ugandan shilling
Reason: inflation
Ratio: 1 new shilling = 100 old shillings

|
|

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

|
|

Template:Uganda topics

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* t
* e

Currencies of Africa

North|

* Algerian dinar
* Egyptian pound
* Euro
* Libyan dinar
* Mauritanian ouguiya
* Moroccan dirham
* Sahrawi peseta (unrecognized)
* Sudanese pound
* Tunisian dinar

Central|

* Angolan kwanza
* Burundian franc
* Central African CFA franc
* Congolese franc
* Rwandan franc

East|

* Comorian franc
* Djiboutian franc
* Eritrean nakfa
* Ethiopian birr
* Kenyan shilling
* Seychellois rupee
* Somali shilling
* Somaliland shilling (unrecognized)
* South Sudanese pound
* Tanzanian shilling
* Ugandan shilling

South|

* Botswana pula
* Sterling
* Euro
* Lesotho loti
* Malagasy ariary
* Malawian kwacha
* Mauritian rupee
* Mozambican metical
* Namibian dollar
* Saint Helena pound
* South African rand
* Swazi lilangeni
* Zambian kwacha
* Zimbabwean ZiG
* mosi-oa-Tunya

West|

* Cape Verdean escudo
* Euro
* Gambian dalasi
* Ghanaian cedi
* Guinean franc
* Liberian dollar
* Nigerian naira
* São Tomé and Príncipe dobra
* Sierra Leonean leone
* U.S. dollar
* West African CFA franc

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