UGX

UGX is the ISO 4217 currency code for the Ugandan shilling, the official currency of Uganda. It is issued by the Bank of Uganda, the country’s central bank, which also conducts monetary policy and oversees currency production.

The Ugandan shilling was introduced in 1966 to replace the East African shilling at par. It is used for all domestic transactions and is managed by the Bank of Uganda, which periodically issues new banknotes and coins and regulates the money supply to support price stability and economic growth.

The currency is generally represented by the code UGX in financial markets and by the symbol USh in some contexts, while price displays often show the code UGX. Banknotes and coins exist in a range of denominations to accommodate everyday transactions, with the central bank periodically updating designs and security features.

In foreign exchange markets, UGX generally floats against major currencies, with its value influenced by market demand, inflation, commodity prices, and overall economic conditions in Uganda. The Bank of Uganda uses monetary policy tools to maintain stability and resilience in the financial system, while also supporting development goals.

Notes and coins are produced to meet demand and to deter counterfeiting, with the central bank periodically introducing new issues or series. The Ugandan shilling remains the primary medium of exchange for Uganda’s economy and is widely used in commerce, savings, and everyday transactions.