Old Notes Valid Till March 2013
1987 series money
Bank of Uganda has issued a statement saying that it has recalled all the 1987 series Shs1,000, Shs5,000, Shs10,000, Shs20,000 and Shs50,000 bank notes printed before the year 2010.
This was revealed yesterday by the deputy governor of Bank of Uganda, Dr. Louis Kasekende.
He added that the Central Bank had issued a directive to all commercial banks to cease issuing the 1987 series bank notes to their customers.
However, the notes will continue to be used in normal transactions until March 2013 when they will have no monetary value.
The Shs10,000 bank note that was unveiled in 2007 to commemorate the Commonwealth Heads of Governments Meeting held in Kampala will also cease to hold value in March 2013.
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This means that aleast now, this wave of brokeness may subside a little since all those in the kazinda and Obey clubs will be forcedto release their money into circulation let it becomes useless to them. I praythey stashed away old notes only which is again highly unlikely.
Our father who art in heaven………
For sure this is a confused nation. What have they been waiting for?
How can a country have two or three types of note? This is total confusion.