Currency Circulation Hits Shs 8.98T

The Bank of Uganda spent Shs 193.76 billion on new banknotes in FY 2024/25, raising currency in circulation to Shs 8.98 trillion, up Shs 771 billion from the previous year. Banknotes rose by Shs 763 billion, coins by Shs 9 billion. The net increase reflects higher withdrawals than deposits, supported by interbank collaboration and currency recycling. BoU expects continued strong cash demand despite the growth of digital payments.