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.
23/03/2020: COVID-19 Pandemic Impact
The rand experienced significant volatility and depreciation as a result of the COVID-19 pandemic, affecting the country's economy and trade balance.
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.
15/12/2008: Global Financial Crisis Impact
The rand plunged against major currencies due to the global financial crisis and concerns about South Africa's economic stability.
02/05/2003: Introduction of Coins
Uganda introduced coins denominated in Shillings to replace lower-value notes and facilitate transactions.
09/11/2001: Rand Weakens to Record Low
The rand weakened to an all-time low against the US dollar, due to global economic uncertainty and domestic political concerns.
01/01/1995: Establishment of Reserve Bank Independence
The South African Reserve Bank gained independence, allowing it to have more control over monetary policy.
27/04/1994: First Democratic Elections
The first democratic elections were held in South Africa, marking the end of apartheid and bringing political stability, positively affecting the rand's value.
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.
01/08/1982: Currency Decimalization
The rand was decimalized, with 1 rand being equal to 100 cents.
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.
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.
14/09/1961: Introduction of the Rand
The South African rand was introduced as the official currency, replacing the South African pound.