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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
During this period, the Ugandan economy experienced economic transformation: the share of agriculture value added in GDP declined from 56% in 1990 to 24% in 2015; the share of industry grew from 11% to 20% (with manufacturing increasing at a slower pace, from 6% to 9% of GDP); and the share of services went from 32% to 55%.
Also, in many African currencies there have been episodes of rampant inflation, resulting in the need for currency revaluation (e.g. the Zimbabwe dollar). In some places there is a thriving street trade by unlicensed street traders in US dollars or other stable currencies, which are seen as a hedge against local inflation. The exchange rate is ...
During this period, the Ugandan economy experienced economic transformation: the share of agriculture value added in GDP declined from 56% in 1990 to 24% in 2015; the share of industry grew from 11% to 20% (with manufacturing increasing at a slower pace, from 6% to 9% of GDP); and the share of services went from 32% to 55%. [3]
In 1921, notes were issued by the East African Currency Board in denominations of 5/-, 10/-, 20/-, 100/-, 200/-, 1,000/- and 10,000/-, with the notes of 20 shillings and above having their denominations expressed also in pounds (£1, £5, £10, £50 and £500). In 1943, 1/- notes were issued, the only occasion that such notes were produced ...
[12] In October 2012, they were found guilty of defamation aimed at discrediting the reputation of Kayanja, [13] were fined one million shillings each (approximately US$390) and sentenced to one hundred hours of community service. After a rejected appeal, the conviction was upheld in the High Court of Justice in February 2014.
The per capita income in Uganda in 1999 was approximately US$650 annually. [1] In 2013, an estimated 19.5 percent of the 35 million Ugandans lived on less than US$1.00 per day. [1] [2] Compiled here is a list of individuals in Uganda whose accumulated assets are known to be markedly
As of 2024, it has a population of over 49 million, of which 8.5 million live in the capital and largest city, Kampala. Uganda is named after the Buganda kingdom, which encompasses a large portion of the south, including Kampala, and whose language Luganda is widely spoken; the official language is English. The region was populated by various ...