Ugandan Shilling

Overview

Economy

• Uganda is a member of AU, EAC, Commonwealth, OIC, Non-Aligned Movement.
• Main industries include: Sugar processing, Brewing, Tobacco, Cotton textiles, Cement, Steel production.
• Uganda is part of the World Trade Organization.
• Imports are capital equipment, vehicles, petroleum, medical supplies, cereals.
• Major exports include coffee, fish and fish products, tea, cotton, flowers, horticultural products, gold.
• GDP: $48.4 billion (2023 est.).
• GDP per capita: $1,015 (2023 est.).
• Unemployment rate: 2.9% (2013 est.).
• Inflation rate: 5.1% (2023 est.).
• Main trading partners: Kenya, United Arab Emirates, Democratic Republic of Congo, Rwanda, South Sudan, Italy.
• Trade agreements: EAC Common Market, COMESA FTA, Various bilateral agreements.

History

• Previous currencies used: East African shilling, Old Ugandan shilling.
• The Ugandan shilling was introduced in 1966, replacing the East African shilling. Uganda has had periods of economic instability but has achieved relative stability since the 1990s.
• 1966: UGX introduced, replacing East African shilling
• 1971-1979: Idi Amin period, economic disruption
• 1987: New shilling introduced (100:1)
• 1993: Foreign exchange liberalization
• 2009: Oil discoveries announced
• Exchange rate peg: Free floating.

General Information

• ISO 4217 Code: UGX
• Symbols: UGX/Sh
• Currency Subunits: 100 cents
• Central Bank: Bank of Uganda
• Monetary Policy: Inflation targeting with flexible exchange rate. Focus on price stability while supporting economic growth and development.
• Bills: 1000 UGX, 2000 UGX, 5000 UGX, 10000 UGX, 20000 UGX, 50000 UGX
• Coins: 50 shillings, 100 shillings, 200 shillings, 500 shillings, 1000 shillings
• USD Exchange Rate: Variable (approximately 3700-3800 UGX per USD)
• Pegged To: None (Floating)
• Capital: Kampala
• Population: 47,729,952 (2023 est.)
• Area: 241,038 km²
• Languages: English (official), Ganda, Other local languages, Swahili
• Time Zones: UTC+3 (East Africa Time)
• Government Type: Presidential republic
• Head of Government: President (head of state and government)
• Independence: October 9, 1962 (from United Kingdom)
• Ethnic Groups: Baganda 16.5%, Banyankore 9.6%, Basoga 8.8%, Bakiga 7.1%, Iteso 7%, Langi 6.3%, Bagisu 4.9%, Acholi 4.4%, Lugbara 3.3%, Other 32.1%
• Religions: Protestant 45.1%, Catholic 39.3%, Muslim 13.7%, Other 1.6%, None 0.2%
• Literacy Rate: 76.5% (2018 est.)
• Transport: Entebbe International Airport, road networks, railway rehabilitation, Lake Victoria transport
• Communications: Expanding telecommunications, 44% internet penetration, growing mobile coverage
• Energy: Hydroelectric 83%, Biomass 13%, Thermal 4%
• Countries Using This Currency: Uganda
• Data Sources: Central Bank: Bank of Uganda (bou.or.ug), Economic Data: Uganda Bureau of Statistics, World Bank, IMF, Trade Data: Uganda Revenue Authority, Demographic Data: Uganda Bureau of Statistics, Geographic Data: Uganda National Meteorological Authority, Historical Data: Bank of Uganda archives
• Last Updated: 2025