Definition

1. Noun:
   • The basic unit of money in Uganda: The Ugandan shilling is the official currency of the Republic of Uganda. It is subdivided into 100 cents.

Usage

• The term "Ugandan shilling" is used to refer to the currency itself, its value in financial contexts, and physical banknotes and coins.
• It is commonly abbreviated as UGX in international finance and currency exchange markets.

Examples

• Noun:
  • The price for a local meal is about 10,000 Ugandan shillings.
  • Tourists are advised to exchange their dollars for Ugandan shillings upon arrival.
  • The central bank issued new Ugandan shilling notes to improve security features.

Advanced Usage

• "to be quoted in Ugandan shillings": used when prices or financial instruments are denominated in this currency.
  • The export contract is priced in Ugandan shillings to avoid foreign exchange risk for the local company.

Variants and Related Words

• Shilling (n): A monetary unit used in several other countries, such as Kenya and Tanzania. The Ugandan shilling is a specific instance of this broader category.
• Cent (n): A subdivision of the Ugandan shilling; 100 cents equal 1 shilling. (Note: Due to inflation, cent denominations are rarely used in practice.)

Synonyms

• UGX: The official three-letter currency code for the Ugandan shilling.
• Ugandan currency: A more general term for the money used in Uganda.

Related Phrases

• Shilling zone: An informal term sometimes used to refer to East African countries that use shilling-based currencies.
• Weak/Strong shilling: Phrases used in economic discourse to describe the exchange rate performance of the currency.
  • A weak Ugandan shilling makes imports more expensive.

Noun

1. the basic unit of money in Uganda; equal to 100 cents