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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%.
Some countries have not changed their currency despite being post-colonial, for example Uganda retains the Ugandan shilling. Many African countries change their currency's appearance when a new government takes power (often the new head of state will appear on bank notes), though the notional value remains the same.
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 ...
A 1933 UK shilling 1956 Elizabeth II UK shilling showing English and Scottish reverses. The shilling is a historical coin, and the name of a unit of modern currencies formerly used in the United Kingdom, Australia, New Zealand, other British Commonwealth countries and Ireland, where they were generally equivalent to 12 pence or one-twentieth of a pound before being phased out during the 1960s ...
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]
Uganda, [b] officially the Republic of Uganda, [c] is a landlocked country in East Africa.It is bordered to the east by Kenya, to the north by South Sudan, to the west by the Democratic Republic of the Congo, to the south-west by Rwanda, and to the south by Tanzania.
This is a timeline of History of Uganda. Each article deals with events in Uganda in a given year. Pre-1962. Pre-1962; Twentieth century. 1990s 1990 1991 1992