If you’re planning a trip to Uganda, it’s important to know about the local currency and how to exchange your money. The official currency of Uganda is the Ugandan shilling, and there are several ways to exchange your currency while traveling in the country. Here are some tips to help you navigate the currency exchange process in Uganda.
Know the local currency and exchange rates.
Before traveling to Uganda, it’s important to familiarize yourself with the local currency and exchange rates. The official currency of Uganda is the Ugandan shilling, and it’s recommended to exchange your money at a bank or authorized exchange bureau. The exchange rate can fluctuate, so it’s a good idea to check the current rate before exchanging your money. Keep in mind that some places may not accept foreign currency, so it’s best to have some Ugandan shillings on hand for smaller purchases.
Use ATMs for the best exchange rates.
One of the easiest and most convenient ways to exchange currency in Uganda is by using ATMs. Most major banks in Uganda have ATMs that accept foreign cards, and the exchange rate is usually better than what you would get at a currency exchange bureau. However, it’s important to check with your bank before travelling to ensure that your card will work in Uganda and to find out if there are any fees for using foreign ATMs.
Additionally, it’s a good idea to withdraw larger amounts of money at once to minimize transaction fees.
Avoid exchanging money at airports or hotels.
While it may be tempting to exchange money at the airport or your hotel, it’s important to avoid doing so if possible. These locations often have higher exchange rates and fees, which means you’ll get less for your money. Instead, try to find a reputable currency exchange bureau in the city or use an ATM to withdraw cash. It’s also a good idea to research the current exchange rate before you travel so you have an idea of what to
expect.
Bring a mix of cash and credit cards.
When traveling to Uganda, it’s important to bring a mix of cash and credit cards. While credit cards are widely accepted in major cities and tourist areas, cash is still the preferred method of payment in many places. It’s also important to note that smaller denominations of the local currency, the Ugandan shilling, are more commonly used than larger bills. Be sure to have a mix of both small bills and coins, as well as larger bills for larger purchases. And always keep your cash and cards in a secure location, such as a money belt or hidden pocket.
Be aware of potential scams and counterfeit currency.
Unfortunately, scams and counterfeit currency are a risk when exchanging money in Uganda. To avoid falling victim to these scams, it’s important to only exchange money at reputable banks or exchange bureaus. Be wary of individuals offering to exchange money on the street or in tourist areas, as they may be attempting to scam you. Additionally, always check your currency for signs of counterfeiting, such as missing watermarks or inconsistent printing. If you suspect that you have received counterfeit currency, report it to the authorities immediately