Currency round-up: Uganda considers dropping smallest note
Uganda: The Bank of Uganda is considering eliminating its 1,000 shilling ($0.28) banknote. On July 20, Adam Mugume, director of research and policy at the central bank, told The Monitor that “the entire [1000 shilling] note will be gradually withdrawn”.
Mugume said the banknotes wore out quickly, and the frequent replacement is expensive. He did not supply a date for the retirement of the small-denomination notes.
In an International Monetary Fund report published in June, Ugandan authorities
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