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UGX information
About Ugandan Shilling (UGX)
The Ugandan Shilling (UGX), introduced in 1966, is the official currency of Uganda and a significant symbol of the country's economic resilience and aspirations for growth. It is commonly abbreviated as UGX and represented by the symbol USh. Replacing the East African Shilling, the Ugandan Shilling was established in the wake of Uganda’s independence, marking a new era in the nation's economic journey.
Historical Background
The introduction of the Ugandan Shilling was a pivotal step in post-independence Uganda. It symbolized the country's break from its colonial past and its commitment to forging an independent economic path. The Ugandan Shilling's establishment coincided with Uganda's broader efforts to build a self-sustaining and diversified economy.
Design and Symbolism
The design of the Ugandan Shilling reflects the country's rich cultural heritage, natural resources, and wildlife. Banknotes and coins feature images of notable Ugandan figures, local flora and fauna, and key economic activities. These designs are not just utilitarian; they narrate Uganda's history, celebrate its cultural diversity, and showcase its natural beauty, thereby instilling a sense of national identity and pride.
Economic Role
The Ugandan Shilling plays a crucial role in Uganda’s economy, which includes significant sectors like agriculture, tourism, and manufacturing. As the primary medium of exchange, it supports these sectors, enabling trade, facilitating investment, and aiding the daily financial transactions of Ugandans.
Monetary Policy and Stability
Managed by the Bank of Uganda, the Shilling has faced various economic challenges, including inflation and currency volatility. The central bank's monetary policies focus on stabilizing the Shilling, controlling inflation, and fostering a conducive environment for economic growth and stability.
International Trade and the Ugandan Shilling
In international trade, the value of the Shilling is crucial, particularly for Uganda’s exports, such as coffee, tea, and gold. A stable Shilling is essential for maintaining competitive export prices and for managing the import of essential goods.
Remittances and Economic Impact
Remittances from Ugandans working abroad, especially in the Middle East, Europe, and North America, are a significant source of foreign income. These remittances, converted into Shillings, support many families and contribute to the national economy, providing a vital buffer against economic challenges.
IBFN to UGX conversion rate trend
Conversion rate comparison of various exchanges
Exchange | Price | Maker / Taker Fee | Tradable |
---|---|---|---|
Bitget ![]() | Sh0 | 0.0200% / 0.0320% ![]() |
How to buy IBF Net
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Buy IBFN (or USDT) for UGX (Ugandan Shilling) offers
Merchants (trades/completion rate) | Price | Amount/limit Low to high | Payment methods | Zero fees Action |
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Sell IBFN (or USDT) for UGX (Ugandan Shilling) offers
Merchants (trades/completion rate) | Price | Amount/limit High to low | Payment methods | Zero fees Action |
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What factors influence the conversion rate of IBF Net to Ugandan Shilling?
IBF Net to Ugandan Shilling is rising this week.Conversion tables
The exchange rate of IBF Net is increasing.IBFN to UGX
UGX to IBFN
Today vs. 24 hours ago
Amount | 14:22 today | 24 hours ago | 24h change |
---|---|---|---|
0.5 IBFN | $0.00 | $-0.001357 | 0.00% |
1 IBFN | $0.00 | $-0.002714 | 0.00% |
5 IBFN | $0.00 | $-0.01357 | 0.00% |
10 IBFN | $0.00 | $-0.02714 | 0.00% |
50 IBFN | $0.00 | $-0.1357 | 0.00% |
100 IBFN | $0.00 | $-0.2714 | 0.00% |
500 IBFN | $0.00 | $-1.3572 | 0.00% |
1000 IBFN | $0.00 | $-2.7144 | 0.00% |
Today vs. 1 month ago
Amount | 14:22 today | 1 month ago | 1M change |
---|---|---|---|
0.5 IBFN | $0.00 | $-0.001357 | 0.00% |
1 IBFN | $0.00 | $-0.002714 | 0.00% |
5 IBFN | $0.00 | $-0.01357 | 0.00% |
10 IBFN | $0.00 | $-0.02714 | 0.00% |
50 IBFN | $0.00 | $-0.1357 | 0.00% |
100 IBFN | $0.00 | $-0.2714 | 0.00% |
500 IBFN | $0.00 | $-1.3572 | 0.00% |
1000 IBFN | $0.00 | $-2.7144 | 0.00% |
Today vs. 1 year ago
Amount | 14:22 today | 1 year ago | 1Y change |
---|---|---|---|
0.5 IBFN | $0.00 | $-0.001357 | 0.00% |
1 IBFN | $0.00 | $-0.002714 | 0.00% |
5 IBFN | $0.00 | $-0.01357 | 0.00% |
10 IBFN | $0.00 | $-0.02714 | 0.00% |
50 IBFN | $0.00 | $-0.1357 | 0.00% |
100 IBFN | $0.00 | $-0.2714 | 0.00% |
500 IBFN | $0.00 | $-1.3572 | 0.00% |
1000 IBFN | $0.00 | $-2.7144 | 0.00% |
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