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The Ugandan shilling is the official currency of Uganda. The Bank of Uganda manages it and sets monetary policy for the country.

Uganda's economy relies heavily on agriculture, with coffee, tea, and cotton as major exports. Services and manufacturing also play important roles. The country has seen steady growth over recent years, though it still faces challenges like inflation and currency volatility.

The shilling's value against other currencies affects trade, investment, and everyday life for Ugandans. When the shilling weakens, imports become more expensive. This impacts prices for goods and services across the economy.

Key factors that influence the shilling:

• Oil production and exports
• Foreign direct investment flows
• Global commodity prices, especially for coffee
• Interest rates set by the Bank of Uganda
• Political stability and investor confidence

The central bank uses several tools to manage the currency, including open market operations and reserve requirements. These actions help keep inflation under control and support financial stability.

For businesses and individuals, understanding shilling movements matters. Exchange rates affect borrowing costs, savings returns, and the price of imported goods. Exporters benefit when the shilling weakens, while importers face higher costs.

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The Ugandan shilling is the official currency of Uganda. The Bank of Uganda, the country's central bank, issues and manages the shilling.

Uganda's currency code is UGX, and one shilling is divided into 100 cents. The shilling has been Uganda's currency since 1966, when the country adopted it after independence.

Shilling banknotes and coins

The Bank of Uganda issues banknotes in denominations of 1,000, 2,000, 5,000, 10,000, 20,000, and 50,000 shillings. Coins come in denominations of 50, 100, 200, and 500 shillings.

Each banknote features prominent Ugandan figures and cultural symbols. The 50,000 shilling note, for example, bears the image of Uganda's founding president, Yoweri Museveni.

Exchange rates

The shilling's value against other currencies changes daily based on market conditions. You can check current exchange rates through the Bank of Uganda's official website or major financial institutions.

Uganda's inflation rate and economic performance directly affect the shilling's strength in foreign exchange markets.

Using the shilling in Uganda

Cash remains the primary payment method across Uganda, though mobile money services like M-Pesa and MTN Mobile Money are growing in popularity, especially in urban areas.

Banks and ATMs are available in major cities. Exchange services operate in Kampala and other towns if you need to convert foreign currency.

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