By Our Reporter
NATIONAL/ECONOMY
Bank of Uganda has announced that it replaces damaged notes and coins in the same value as long as the damaged notes/coins meet the set minimum requirements.
The announcement was made on 30th October, 2024 with the BOU saying, “If your banknotes or coins are damaged, you can swap them for fit ones of the same value at any Commercial Bank or BoU branch near you.”
However, for you to be able to swap your notes/coins for fit ones of the same value they must meet the following requirements.
For notes, the damaged Note must bear at least one complete signature of either the Bank Governor or Bank Secretary.
The note should also have at least one full denomination figure e.g 10000.
The note should also bear at least one complete serial number and lastly be at least two thirds of the original size.
As for coins, the main image must still be visible, for instance the long horned bull on the Shs100 coin, the denomination value must be clearly visible and be at least two thirds of the original size
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