26/06/2020: Currency peg under review
Barbados announced that it would review the decades-long currency peg of 2:1 with the US dollar, considering a shift to a floating exchange rate.
03/06/2020: COVID-19 Impact on the Shilling
The Ugandan Shilling experienced a significant decline in value due to the economic impact of the COVID-19 pandemic.
01/09/2013: Withdrawal of Old Currency Series
The old series of Ugandan Shilling notes were phased out and replaced with the new currency series.
05/08/2013: Devaluation of currency
Barbados devalued its currency by 10% to stimulate economic growth and competitiveness.
01/07/2010: Issue of New Currency Series
Uganda issued a new series of currency notes with enhanced security features to reduce counterfeiting.
02/05/2003: Introduction of Coins
Uganda introduced coins denominated in Shillings to replace lower-value notes and facilitate transactions.
24/07/1995: New currency design
Barbados introduced a new design for its currency, featuring national symbols and landmarks.
15/05/1987: Introduction of the 500 Shilling Note
A new 500 Shilling note was introduced to combat the rapid inflation and devaluation of the currency.
05/05/1975: Introduction of decimalization
Barbados introduced decimalization, dividing the Barbadian Dollar into 100 cents.
01/01/1973: Fixed exchange rate
Barbados fixed its currency exchange rate to the US dollar at a rate of 2 Barbadian Dollars to 1 US Dollar.
05/08/1972: Idi Amin's Currency Change
President Idi Amin ordered the demonetization of old Ugandan Shilling notes and replaced them with new ones, causing an economic crisis.
03/07/1972: Barbados gains independence
Barbados gained independence from British rule, leading to the establishment of the Central Bank of Barbados.
15/06/1966: Introduction of the Ugandan Shilling
The Ugandan Shilling was introduced as the official currency of Uganda following its independence from British colonial rule.
01/10/1935: Introduction of Barbadian Dollar
The Barbadian Dollar was introduced as the official currency of Barbados, replacing the East Caribbean dollar.