Uganda clarifies position on 100,000-shilling note to keep up with inflation

According to an UGPulse article, Governor Emmanuel Tumusiime Mutebile said the Bank of Uganda would consider introducing a 100,000-shilling (US$38.50) banknote if inflation doesn’t ease from recent levels around 30 percent. Currently the largest denomination is the 50,000-shilling note issued on 17 May 2010.

In a follow-up statement dated 11 November 2011, the Bank of Uganda clarified that it is not contemplating and has no immediate plans to introduce a 100,000-shilling note and that the bank has no intention of changing its currency structure at the moment.

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