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Currency of Uganda

The shilling (; 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.

Prices in the Ugandan shilling are written in the form of , 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 "" and 100 shillings as "" 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.

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.

In 1966, coins were introduced in denominations of , , and and and The , and 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 In 1972, cupro nickel 5 shilling coins were issued but were withdrawn from circulation and are now very rare.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 bronze 20 mm 3.21 g 1.38 mm Smooth 1966–1975 bronze plated steel 20 mm 3.21 g 1.2 mm Smooth 1976 bronze 25 mm 5 g 1.5 mm Smooth 1966–1975 bronze plated steel 25 mm 4.5 g 1.5 mm Smooth 1976 bronze 28 mm 9.76 g 2.07 mm Smooth 1966–1974 copper nickel 22 mm 4.60 g 1.5 mm Reeded 1966–1974 copper nickel plated steel 22 mm 4 g 1.5 mm Reeded 1976 copper nickel 25.5 mm 6.50 g 1.5 mm Reeded 1966–1975 copper nickel plated steel 25.5 mm 6.50 g 1.5 mm Reeded 1976 copper nickel 30 mm 11.7 g 1.5 mm Reeded 1976 copper nickel 30 mm (heptagonal) 13.5 g 2 mm Smooth 1976

In 1987, copper plated steel and and stainless steel and coins were introduced, with the and curved equilateral heptagonal in shape. In 1998, coins for, , and were introduced. Denominations currently circulating are , , , , and
Second Ugandan shilling coins Image Value Composition Reverse design Diameter Weight Thickness Edge Issued Nickel plated SteelAnkole Watusi 21 mm 3.9 g 1.8 mm Smooth 1998–2015 Copper nickel 27 mm 7 g 1.73 mm Reeded 1998–2008 Nickel plated Steel 27 mm 6.6 g 1.73 mm Reeded 2007–2019 Copper nickelNile perch 25 mm 8.5 g 2.05 mm Smooth 1998–2003 Nickel plated Steel 25 mm 7.25 g 2.05 mm Smooth 2007–2019 Aluminum brassEast African crowned crane 23.5 mm 9 g 2.9 mm Reeded 1998–2019 Bi Metallic nickel brass plated nickel center in nickel brass ring 27 mm 10.25 g 3 mm Reeded 2012

In 1966, the Bank of Uganda introduced notes in denominations of , , and In 1973, notes were introduced, followed by and in 1983 and in 1985.

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

As of 22 August 2011, one US dollar (USD) was worth USh The exchange rate dropped to USh  to US$1 in September 2011, and it bounced back to USh  to US$1 on 13 February 2012.