The Bank of Uganda announced that bank notes printed from 1987 through 2010 will be accepted for exchange at currency centers until December 31, 2013, reports All Africa. After the end of the year, the currency will no longer be valid. Commercial banks have ceased shipments of the old notes and citizens who still have them are able to take them to Bank of Uganda locations in Arua, Gulu, Mbale, Mbarara, Jinja, Kampala, Masaka, Kabale and Fort Portal for exchange.
Dr. Jan Tibamwenda, Bank of Uganda’s director of communication, explained that waning the use of the old currency has been greatly successful and stated, “After December 31, the money will be worthless, nobody will exchange it for anything.”
Currently, only 1 percent of the old notes remain in circulation.
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