Frequently Asked Questions on Currency

Q. How many denominations has our currency structure got?

A. Uganda's  legal tender has 13 denominations, eight of which are coins and five are bank notes. The coins are: 1 shilling,  2 shillings, 5 shillings, 10 shillings, 50 shillings, 100 shillings, 200 shillings and 500 shillings.
Bank notes are: 1000 shillings, 2000 shillings,  5000 shillings, 10,000 shillings, 20,000 shillings and 50,000 shillings.

Q. What is the benefit of issuing low value coins like 1 shilling, 2 shillings, 5 shillings and 10 shillings?

A. Low denomination coins are important in retail transactions because they  enable retailers to  to calculate prices in a more exact manner. The buyer is  able to pay the  precise amount quoted by the retailer.

Q. Where can I obtain coin change?

A. From any commercial bank,  the tellers at the banking hall of Bank of Uganda headquarters, and at any of the upcountry currency centers of bank of Uganda.

Q. Where can I redeem a banknote that is partially damaged?

A. A bank note that has been partially damaged or one which  has missing portions or one damaged by deterioration through wear and tear or by fire can be taken to Bank of Uganda teller and Bank of Uganda Currency Centers for redemption. Such notes will be examined for standard requirements in order to be replaced.

Q. How many upcountry Currency Centers does Bank of Uganda have?

A. Bank of Uganda has 8 Currency Centers and branches located as follows: Jinja, Mbale, Masaka, Mbarara, kabale, Fort Portal, Gulu and Arua.

Q. What do the Currency Centers do?

A. They are central to the Bank's role of currency management and they serve currency requirements by commercial banks and the public upcountry.

Q. How do I know if a banknote is genuine or not?

A. By closely checking your money. Feel the texture of the note, look for visual features like color shifting ink and visible fibres, hold the note against light for  hidden features such as the watermark. More featues can be observed using ultra violet lights.

Q.  Is there a single feature that one can look out for to guarantee that a note is genuine?

A.No. Whenever in doubt of a note, compare it with a nother one that you are sure is genuine and look for differences rather than similarities by comparing as many security features as possible.