The Evolution of the Ugandan Currency since M7 Stepped in

The cost of the Ugandan currency today has changed to much since currently sugar costs UGx 7000 per kilo yet when the current president H.E Yoweri Kaguta Museveni came to power in 1986 each kilo was at ugx 4 (four shillings).

 
Immediately when he came to power he said Ugandan shilling had lost value, in 1987 all money was changed, not only changed but two zeros were cut off to give it value on addition to the 30% levied on each shilling. This means on every 100 shillings, you got 70cents. Those who had 100,000/- got 700/-
Going by the price of sugar today, had Uganda not changed money, the price of sugar would have been 1,000,000/- today.

 
To get this figure; add two zeros which were cut off to the UGx 7000 then add the 30% which was levied on every shilling. The total is UGx 1m per kilo.

 
At the time M7 came to power, the biggest Ugandan denomination was 5,000/-, now we have 50,000.

 

This all shows you how poor Ugandan economy is today compared to the past. 
Analysis done by Kakensa Henry Ndugwa.

Sean Musa Carter

A Creative and well Experienced Entertainment/Gossip News Writer. Devoted to telling it the way it is.