Common traded currencies in Forex bureaus in Uganda. ~ Gorilla Tour Booking Safaris
Not every currency is traded in a Forex bureau. Only those currencies that circulate in the economy are normally traded in Uganda. The Forex bureau’s business model is very simple, they sell the local Ugandan currencies, shilling, to people who need them by giving them the international currency and they equate it according to the prevailing exchange rate. They will say things like $1 is equivalent to this amount in Ugandan shilling. Then they will buy the Ugandan shilling if you want to exchange it with another currency- they will give another currency if you give them Ugandan shillings. The business model is dependent on the availability of a currency in Uganda and this could be attributed to business or the foreigners of a particular nation living in Uganda. There are so many traded currencies in Uganda and all of them depend on the Forex bureaus, there is actually no law that prohibits or restrains a forex bureau in availing a particular currency. Here are some of the common traded currencies in Uganda.


The US dollar

Wherever you go around this planet earth, be sure to find the US dollar. The US dollar is one of those international currencies that are readily available in Uganda. Once you have the US dollar, life will always be easy for you and as a matter of fact there is no forex bureau in Uganda without the US dollars. What might change across all the forex bureaus that you shall be visiting is the exchange rate, each forex bureau has its own exchange rate but the overall exchange rate does not differ so much from another. And due to economic times, you will find the dollar will either depreciate or appreciate against the Uganda currency. This is where some people make money, they buy the US dollar when it is depreciating against the Ugandan shillings and sell it when appreciates against the Uganda shillings. If you used that strategy like 6 years ago, right now you would be reaping a lot because the dollar has really appreciated against the Ugandan shilling.

The Euro

Though not so much popular like the US dollar, you shall be guaranteed that once you have the Euro, it shall be easy for you to trade it the local Ugandan shillings. Most Europeans love their Euros and they travel with them on their safaris here in Uganda.

The pound

The pound is another important international currency that is easily tradable in Uganda. Uganda was once a British colony and even today, we see the influence of the British in so many aspects of Ugandans and besides, there is a lot of businesses between Uganda and the UK which facilities the pound.

Kenyan shillings

Due to a lot of businesses that go among Kenya and Uganda, in every forex bureau, be sure to find the Kenyan shilling being traded.
Rwandan Franc
The Rwandan franc is the local currency for the republic of Rwanda. There are so many business between the neighbors-Uganda and Rwanda which has led to Rwanda currency to be traded in Tanzania.

Tanzanian shilling

Though not to a large extent, you will surely find forex bureaus trading the Tanzanian currency. Tanzania is Uganda’s neighbor and they have a good relationship among themselves and so many business as well.

1 comment:

  1. Then they will buy the Ugandan shilling if you want to exchange it with another currency- they will give another currency if you give them Ugandan shillings. The business model is dependent on the availability of a currency in Uganda and this could be attributed to business or the foreigners of a particular nation living in Uganda. minibus hire dewsbury
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