Uganda central bank urges caution in trading in Kenyan currency amid new notes issuance

Uganda’s central bank on Wednesday urged the public to exercise caution while transacting in Kenyan currency saying some of the old notes will cease being legal tender by October 1.

Bank of Uganda in a statement issued here said Kenya issued new banknotes which came effective on May 31.

“We advise the general public to take note of these changes and be vigilant in transacting in Kenyan currency,” the statement said.

The bank said changing the Kenyan currency from old to new banknotes can only be done in Kenya.

This is the second statement the bank is issuing after the first one on Tuesday.

In the Tuesday statement, the bank said that the Central Bank of Kenya informed it that it issued the new notes to combat illicit flows and counterfeits into Kenya.

Uganda is one of Kenya’s major trading partners in the east African region. (Xinhua)

Show More

Related Articles