In Uganda the Uganda shilling is the National currency and all business will accept the shillings in both paper notes and coins.
In Uganda, the government plays a big role in influencing the inflow of foreign currency and the rates at which they trade in the market. There are many foreign change bureaus in Uganda, almost on every street in Kampala, Entebbe and in major towns around Uganda. Check if the foreign exchange bureau has an authentic certificate that allows it to trade in foreign currency. Many forex bureaus will have a display of the exchange rates for the US Dollar, British Pound, Yen, Euro, Kenya Shilling, Rwandese Franc and other currencies on a white board at the entrance or have a screen where any changes in the rates will be reflected. Finally, you can also check online for some foreign exchange bureaus and banks in Uganda that have forex rates on their websites.
We have probably all dealt with currency exchange when we travel from one country to another.
International currency such as the US Dollar, British Pound and the Euro are the base for foreign exchange in Uganda like for other countries in the world.
Fortunately, there are banks and a number of foreign exchange bureau or forex trader companies licensed by Bank of Uganda to handle foreign currency and exchange.
According to statistic, Uganda’s tourism sector is the biggest earner of foreign currency since many tourist bring in many dollars on their safari holidays. If you do not take your foreign exchange at a bank, you have to walk into one of these small forex bureaus at all costs. Look out for this display board to compare the rates for different centers before you make the final decision. We have noticed are displaying forex rates that have not been updated since December 12th, 2012.
The rule is…before you enter a certain country you have to visit a bank or foreign exchange bureau to buy currency for that particular county you are visiting. Count your money over the counter to avoid shortages and check for the validity or paper notes and coins or special features that show it is not fake money! You can actually call the bureau’s offices for any news, updates and changes about the foreign exchange trade. Some businesses such as shopping malls, supermarkets, travel agencies and hotels accept the use of credit cards and dollars in paying for services and supplies.
Check out our website for more information and feel free to contact us on the email address we have provided.
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