Bank of Uganda bans the exchange of Kenyan shillings

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The Bank of Uganda has warned that it will no longer accept Kenya shillings at its counters.

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“In light of the new developments, the Bank of Uganda (BOU) will not accept Kenya shillings at its counters with immediate effect. Going forward, you are advised to subject all flows from and into Kenya to enhance due diligence. Please also be advised that changing Kenya currency from old to new banknotes can only be done in Kenya,” reads BOU statement

It follows a letter written by the Central Bank of Kenya to its East African counterparts in Uganda and Tanzania explaining its move in issuing new series of Kenyan banknotes starting May 31st, 2019 in a bid to fight illicit flows.

CBK also ordered the  withdraw  the Ksh1,000 note by October 1 — giving holders of the notes 90 days to comply

BOU says that changing Kenyan currency from old to new banknotes can only, for now, it can only be done in Kenya.

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