Ugandan shilling (UGX)

The Ugandan shilling (ISO code: UGX) is the legal tender of Uganda, introduced in 1987 to replace the first Ugandan shilling (UGS) at a rate of 1 new shilling to 100 old shillings. Issued by the Bank of Uganda, it was historically divided into 100 cents, though inflation has made fractional units obsolete in daily trade. The currency functions under a free-floating exchange rate system across the domestic financial market.