The E-Sylum:  Volume 9, Number 1, January 1, 2006, Article 7

UGANDA's NEW PAPER CURRENCY

>From a recent news article: "The upgraded Shs10,000 note
will go into circulation on Jan. 2, 2006, Bank of Uganda
(BoU) has confirmed.

Members of the public who still hold the old Shs10,000
bank notes printed in 1995 and 1998, which do not have
the foil stripe, will have to exchange them at BoU's
counter in Kampala and upcountry currency centres before
the deadline of December 31, 2005. BoU officials say
there will be no further extension for redemption of
the old notes after that date.

Addressing the BoU's monthly press briefings on Thursday,
the Deputy Director Currency, Mr Raymond Otim, said the
upgraded note will circulate side-by-side with the
existing Shs10,000 banknote and will reach the public
through the normal banking system.

"This is part of the bank's programme to upgrade its
currencies and it has been going on for the last two
years," Otim said."

"Distinct features include among others, an electro-type
watermark of the denomination figure 10000, visible below
the crested crane watermark when the note is viewed against
light. The feature is absent in the current note. The
denomination figure 10,000 at the bottom corner of the
front face has been enlarged and printed with special
ink, which shifts colour from magenta to green, when
the angle of view is changed."

"BoU began the process of upgrading new notes two years
ago. They started with the Shs1,000, Shs5,000 and Shs20,000.
This is expected to be the last exercise of upgrades."

To read the complete article, see: Full Story

  Wayne Homren, Editor

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