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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
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 ...
Sources from within the government reveal that the main concern at present is the manner in which millions of dollars have been lost in the past decade, money that could allegedly have stayed in Uganda for investment in the public sector; a Global Financial Integrity report recently revealed that illicit money flows from Uganda between 2001 and ...
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B.M. Forex Bureau - Uganda House, 8-10 Kampala Road, Kampala; Bakaal Express Money Transfer Services Limited 1A - Tropical Complex, 82 Ben Kiwanuka Street, Kampala; Bakaal Express Money Transfer Services Limited 1B - 11 Malinga Road, Mengo, Kisenyi, Kampala. Best Forex Bureau - Shops 1&2, 3 William Street, Kampala
Savings rates and high-interest accounts in the news Savings rates strongly correlate with the target interest rate set by the Federal Reserve, the country’s central bank.
By Leah Douglas and Julie Steenhuysen (Reuters) -California's public health department reported a possible case of bird flu in a child with mild respiratory symptoms on Tuesday, but said there was ...
The board of directors of the Bank of Uganda is the bank's supreme policy making body. It is chaired by the governor or, in his or her absence, by the deputy governor. The duties and powers of the board are specified by the Bank of Uganda Act. This Act makes the board responsible for the general management of the affairs of the bank. The board formulates policy and ensures