Uganda Shilling - UGX


The economy of Uganda has great potential, and it appeared poised for rapid economic growth and development. After the turmoil of the Amin period, the country began a program of economic recovery in 1981 that received considerable foreign assistance.


  • Endowed with significant natural resources, including ample fertile land, regular rainfall, and mineral deposits, it is thought that Uganda could feed the whole of Africa, if it was commercially cultivated.
  • The economy of Uganda appeared poised for rapid growth and development. However, chronic political instability and erratic economic management have caused a persistent decline that has left Uganda among the world’s poorest and least-developed countries.
  • The national energy needs have been historically more than domestic energy generation, though large petroleum reserves have been discovered in the west.


  • In 1966, the first Ugandan Shilling replaced the East African Shilling at par.
  • In 1987, following high inflation, a new Shilling was launched with a value of 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 pound sterling, and increasingly the euro, are also used.
  • The Bank of Uganda launched redesigned banknotes in May, 2010. The present 1,000- and 5,000-shilling notes incorporate the latest security features and arguably have a longer life through new production processes. In addition, a new note with the value of 2,000 shillings was launched, equivalent to approximately 1 US Dollar.

General Information

Symbols and Names

  • Symbols: USh
  • Nicknames: none

ISO 4217 Code


Central Bank

Bank of Uganda

Currency Subunits

  • Cent = 1/100 of a Shilling


  • Bills: 1,000, 2,000, 5,000, 10,000, 20,000, 50,000 shillings
  • Coins: 10, 50, 100, 200, 500 shillings

Countries Using This Currency

  • Uganda

Currencies Pegged To UGX :


UGX Is Pegged To: