Ugandan Shilling (UGX)

The Ugandan Shilling (UGX) is the official currency of Uganda. Uganda is a country located in East Africa, and the Ugandan Shilling is the official currency used to manage the country’s monetary policy and economic activities.

Here are some key details about the Ugandan Shilling:

1. Currency and Code: The Ugandan Shilling has an international currency code of UGX. The currency symbol is typically written as “UGX.”

2. Subunits: The Ugandan Shilling is divided into 100 subunits called cents. However, in practice, cents are not commonly used and are generally not considered as a subunit of the Ugandan Shilling.

3. Banknotes and Coins: The Ugandan Shilling is circulated in various denominations of banknotes and coins. Banknotes are typically available in denominations of 1000, 2000, 5000, 10,000, 20,000, and 50,000 UGX, while coins are available in denominations of 50, 100, 200, 500, and 1000 UGX.

4. Central Bank: The issuance and circulation of the Ugandan Shilling are controlled by the Bank of Uganda, which is the central bank of Uganda. The central bank determines monetary policy, manages the money supply, and takes various measures to ensure the country’s financial stability.

5. Usage: The Ugandan Shilling is accepted as legal tender in Uganda. It is used by both the local population and tourists for daily transactions and commercial activities. Additionally, tourists are advised to use the Ugandan Shilling for traveling and engaging in tourist activities within the country.

The value of the Ugandan Shilling can fluctuate in the foreign exchange markets. Exchange rates can vary based on factors such as supply and demand, economic conditions, and relationships with international currencies. The exchange rate of the Ugandan Shilling can appreciate or depreciate against other currencies.

For more detailed information about the Ugandan Shilling or to check the current exchange rates, it is recommended to visit the official website of the Bank of Uganda or follow reliable financial sources.