Currency - Ugandan shilling

Currency  >  Ugandan shilling

Ugandan shilling

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The shilling (sign: USh; code: UGX) is the currency of Uganda. Officially divided into cents until 2013, the shilling now has no subdivision.

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. The pound 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.

In 1966, coins were introduced in denominations of 5, 10, 20 and 50 cents and 1 and 2 shillings. The 5-, 10- and 20-cent 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 In 1972, cupro-nickel 5-shilling coins were issued but were withdrawn from circulation are now very rare.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.

In 1987, copper-plated-steel 1- and 2-shilling and stainless-steel five- and ten- shilling coins were introduced, with the five- and ten-shilling curved-equilateral heptagonal in shape. In 1998, coins for 50, 100, 200 and 500 shillings were introduced. Denominations currently circulating are 50, 100, 200, 500, and 1,000 shillings.

Country

Uganda

Uganda, officially the Republic of Uganda (Jamhuri ya Uganda), is a landlocked country (except for its borders with Lake Victoria and Lake Albert) in East-Central Africa. It is bordered to the east by Kenya, to the north by South Sudan, to the west by the Democratic Republic of the Congo, to the south-west by Rwanda, and to the south by Tanzania. The southern part of the country includes a substantial portion of Lake Victoria, shared with Kenya and Tanzania. Uganda is in the African Great Lakes region. Uganda also lies within the Nile basin, and has a varied but generally a modified equatorial climate.

Uganda takes its name from the Buganda kingdom, which encompasses a large portion of the south of the country, including the capital Kampala. The people of Uganda were hunter-gatherers until 1,700 to 2,300 years ago, when Bantu-speaking populations migrated to the southern parts of the country.

Language

Ugandan shilling (English)  Scellino ugandese (Italiano)  Oegandese shilling (Nederlands)  Shilling ougandais (Français)  Uganda-Schilling (Deutsch)  Xelim ugandês (Português)  Угандийский шиллинг (Русский)  Chelín ugandés (Español)  Szyling ugandyjski (Polski)  烏干達先令 (中文)  Ugandisk shilling (Svenska)  ウガンダ・シリング (日本語)  Угандійський шилінг (Українська)  Угандийски шилинг (Български)  우간다 실링 (한국어)  Ugandan šillinki (Suomi)  Shilling Uganda (Bahasa Indonesia)  Ugandos šilingas (Lietuvių)  Uganda şilini (Türkçe)  Угандски шилинг (Српски / Srpski)  Ugandský šiling (Slovenčina)  Ugandai shilling (Magyar)  Ugandski šiling (Hrvatski)  Σελίνι της Ουγκάντας (Ελληνικά) 
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