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.
01/07/2010: Issue of New Currency Series
Uganda issued a new series of currency notes with enhanced security features to reduce counterfeiting.
01/01/2010: Removal of 1 cent coin from circulation
Due to its low purchasing power and production costs, the 1 cent coin was withdrawn from circulation in the Cayman Islands.
01/11/2007: Transition from Crown Dependencies to Overseas Countries and Territories
The Cayman Islands, including its currency, transitioned from being labeled as a Crown Dependency to an Overseas Country and Territory.
02/05/2003: Introduction of Coins
Uganda introduced coins denominated in Shillings to replace lower-value notes and facilitate transactions.
01/01/2001: Issuance of New Banknotes and Coins
New banknotes and coins with enhanced security features were introduced to combat counterfeiting.
01/01/1999: Introduction of Cayman Islands Currency Law
The Cayman Islands Currency Law was enacted to provide a legal framework for the issuance and regulation of the currency.
01/07/1997: Pegging of the Cayman Islands Dollar to the US Dollar
The Cayman Islands dollar was pegged to the US dollar at a fixed exchange rate of KYD 1.00 = USD 1.20.
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.
07/11/1974: Creation of the Cayman Islands Monetary Authority
The Cayman Islands Monetary Authority was established as the central bank responsible for regulating the currency and financial institutions.
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.
01/01/1972: Introduction of Cayman Islands Dollar
The Cayman Islands dollar was first introduced as the official currency, replacing the Jamaican dollar.
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.