Cost of printing money reduces to Shs147.5b  

The Central Bank spends an average of Shs150b annually to print money and issue currencies. Photo | Edgar R Batte 

What you need to know:

  • According to the Bank of Uganda 2020/21 annual report, Shs147.5b was spent on printing currency. However, this was a reduction from Shs193b that was spent for the period ended June 2020.    

The Central Bank spent Shs147.5b on printing money during the year ended June, according to the Bank of Uganda 2021 annual report. 
However, the report noted, this was a reduction by at least Shs45.5b from the Shs193b that was spent during the same period ended June 2020. 
The reduction, the Central Bank said, was partly due to a general decline in demand for money, improvement in processing re-issue banknotes and adaptation of new currency guidelines, in which the Central Bank is now required to reissue 80 per cent of currency compared to 20 per cent new banknotes. 

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