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Uganda Shillings hits 3400

As the Uganda Shillings hit the epic 3.400 barrier of 1 US Dollar against the Ugandan currency tourists are now counting their fortunes as their local expenses for drink, food, souvenirs, art and gifts suddenly became cheaper while in turn the locals are staring in disbelief at rising prices.

Uganda Shilings

All imports from outside from outside Uganda, are mainly paid in US Dollars, immediately need a lot more Ugandan Shillings. Uganda imports Fuel, food items, machinery, cars, spare parts and whose volume is going to decrease as the locals will not afford the high prices considering that poverty is also wide spread in Uganda.

For tourists the safari prices usually in US Dollars or Euros remain the same for pre-booked packages though the local expenses incurred by tourists will be less in their own currency, making them no doubt smile whereas the faces of the locals will become somewhat grimmer when reality strikes home.

Central Banks in the region are expected to offer a coordinated countermove to sell hard currency into the market but how much that is going to be, and for how long it lasts before the green buck injection is absorbed and the downward trend continues, is a question which answer is almost obvious.

Intending visitors to the Uganda should monitor foreign exchange listings and, considering the latest increase in cost for a Visa to Uganda, ask straight away for a Common East African Tourist Visa, which now costs the same, i.e. 100 US Dollars but allows to visit Rwanda and Kenya too.

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