Production of (unofficial) postal stamps by an employee of British East Africa Company denominated in "Cowrie" at a rate of 1 Indian Rupee = 200 Cowrie
01.09.1905
Establishment of a Currency Commission for the East Africa and Uganda Protectorates and creation of the East African Rupee a distinct currency
01.05.1920
Establishment of the East African Currency Board and creation of the East African Florin as currency; local proclamation by ordinance [Uganda Currency Notes, No. 13] of ??.??.1920.
01.01.1922
Creation of the East African Shilling as currency; local proclamation by ordinance [Uganda Currency Notes (Amendment), No. 8] of ??.??.1922.
Time Period: 1966-1987
Currency: 1st Ugandan Shilling
Transition
1 : 1 East African Shilling
Sub-units
Shilling / 100 Cents
ISO4217
UGS
Timeline
28.05.1966
Law on the establishment of a central bank and creation of the national currency; effectiv upon constitution of the bank on 15.08.1966
15.08.1966
Start of currency exchange: - 15.08.1966: Start of issuance of the new banknotes and coins - 14.09.1967: Demonetization of the East African currency, coins were tolerated until 10.04.1969.
Valuation Regimes
1966-1975
Fixed rate against US Dollar
1975-1981
Fixed rate against IMF Special Drawing Rights (SDR) unit
1981-1986
Variable rate
1986-1987
Fixed rate against US Dollar
Rate Arrangements
15.08.1966
Fixed
US Dollar at 1 : 7.143 - [Gold parity] 124.41mg AU fine
±0.0%
23.02.1973
Fixed
US Dollar at 1 : 7.143 - [Gold parity] 103.13mg AU fine
±0.0%
30.06.1973
Fixed
US Dollar at 1 : 6.90
+3.5%
14.01.1974
Fixed
US Dollar at 1 : 7.143
-3.4%
27.10.1975
Fixed
SDR at 1 : 9.66
-12.4%
08.06.1981
Variable
Initially: US Dollar at 1 : 78
-89.2%
19.02.1986
Fixed
US Dollar at 1 : 1470
-
28.05.1986
Fixed
US Dollar at 1 : 1400
+5.0%
Time Period: 1987-
Currency: 2nd Ugandan Shilling
Transition
1 : 100
Sub-units
Shilling / 100 Cents
ISO4217
UGX
Timeline
15.05.1987
Presidential decree [Currency Reform Statute, No. 2] on the currency reform; effective immediately
18.05.1987
Start of currency exchange: - 18.05.1987: Start of issuance of the new banknotes and coins - 05.06.1987: Demonetization of the former currency - Partial confiscation as the exchange of cash was subject to a 30% "exchange tax".