UGX (Ugandan Shilling)

DEFINITION of 'UGX (Ugandan Shilling)'

The currency abbreviation for the Ugandan shilling (UGX), the currency for Uganda. The Ugandan shilling is made up of 100 cents and is often presented with the symbol USh. Even though the shilling is made up cents, no subdivisions have been used since the currency was revalued in 1987.

BREAKING DOWN 'UGX (Ugandan Shilling)'

The Ugandan shilling (UGS) was first introduced in 1966 and replaced the East African shilling at par. After many years of high inflation, the value of the shilling had decreased to a point at which it was necessary to introduce the new shilling in force today (UGX). The new shilling replaced the old at a rate of 100:1.

Although the new shilling is a very stable currency and is used in most transactions in Uganda, the U.S. dollar (USD), Great Britain pound (GPB) and the euro (EUR) are also widely used.

RELATED TERMS
  1. KES (Kenyan Shilling)

    The currency abbreviation or currency symbol for the Kenyan shilling ...
  2. KES

    The currency abbreviation or currency symbol for the Kenyan shilling ...
  3. TZS (Tanzanian Shilling)

    The currency abbreviation for the Tanzanian shilling (TZS), the ...
  4. SOS (Somaliland Shilling)

    The currency abbreviation for the Somaliland shilling (SOS), ...
  5. BSD (Bahamian Dollar)

    The currency abbreviation or currency symbol for the Bahamian ...
  6. USD

    In currencies, this is the abbreviation for the U.S. dollar. ...
Related Articles
  1. Bonds & Fixed Income

    Getting Certificates of Deposit (CDs) in Emerging Markets: Risks and Rewards

    Learn about the risks and rewards associated with investing in a certificate of deposit (CD) offered by an emerging market and what to consider before buying.
  2. Investing News

    How Low Can Oil Go?

    Despite recent spikes, oil will likely move lower over the next year. But how low can it go?
  3. Forex Education

    The Hazards Of Currency Movements

    Devaluation and revaluation are official changes in the value of a nation’s currency in relation to other currencies. The terms are generally used to refer to officially sanctioned changes in ...
  4. Professionals

    FOREIGN CURRENCY OPTIONS

    The value of one country’s currency relative to another’s is constantly changing and is known as the exchange rate. Large commercial banks exchange currencies for their own accounts ...
  5. Forex Education

    The History Of Money: Currency Wars

    Find out how conflicts have changed the role money plays in our lives.
  6. Forex Education

    Forex Tutorial: Reading a Forex Quote and Understanding the Jargon

    One of the biggest sources of confusion for those new to the currency market is the standard for quoting currencies. In this section, we'll go over currency quotations and how they work in ...
  7. Forex Education

    Forex Currencies: Conclusion

    By Brian Perry Conclusion The currency markets are the largest and most actively traded financial markets in the world with daily trading volume of more than $3 trillion (Triennial Central ...
  8. Forex

    Currencies

    The major currencies in the forex market.
  9. Forex Education

    4 Of The Most Popular Traded Currencies

    Every day, trillions of dollars trade in the forex market. Here are a few of the most popular currencies, and some characteristics for each.
  10. Forex Education

    Understanding The Spread in Retail Currency Exchange Rates

    Understanding how exchange rates are calculated and shopping around for the best rates may mitigate the effect of wide spreads in the retail forex market.
RELATED FAQS
  1. Why is the U.S. dollar shown on the top of some currency pairs and on the bottom ...

    All currencies are traded in pairs. The first currency in the pair is called the base currency while the second is called ... Read Answer >>
  2. Why isn't the EUR/USD currency pair quoted as USD/EUR?

    In a currency pair, the first currency in the pair is called the base currency and the second is called the quote currency. ... Read Answer >>
  3. What are the "big uglies"?

    The big uglies are stocks that the investing public does not find attractive. Industrial companies like steel, mining and ... Read Answer >>
  4. How are international exchange rates set?

    International currency exchange rates display how much one unit of a currency can be exchanged for another currency. Currency ... Read Answer >>
  5. When and why did the euro make its debut as a currency?

    On January 1, 1999, the European Union introduced its new currency, the euro. Originally, the euro was an overarching currency ... Read Answer >>
  6. Why is currency always quoted in pairs?

    When reading currency quotes, you have probably noticed that there is only a single quote for a pair of currencies. Currency ... Read Answer >>
Hot Definitions
  1. Law Of Demand

    A microeconomic law that states that, all other factors being equal, as the price of a good or service increases, consumer ...
  2. Cost Of Debt

    The effective rate that a company pays on its current debt. This can be measured in either before- or after-tax returns; ...
  3. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  4. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  5. Keynesian Economics

    An economic theory of total spending in the economy and its effects on output and inflation. Keynesian economics was developed ...
  6. Society for Worldwide Interbank Financial Telecommunications ...

    A member-owned cooperative that provides safe and secure financial transactions for its members. Established in 1973, the ...
Trading Center