Uganda Shilling
Networks
Supported exchanges
About the coin
The Uganda Shilling (UGX) is the official currency of Uganda. It is issued and regulated by the Bank of Uganda.
The Uganda Shilling is a fiat currency, meaning its value is not backed by a physical commodity but by the government that issued it.
The currency is used for all official transactions within Uganda, including trade, payments, and savings.
The Bank of Uganda is responsible for maintaining the stability of the shilling and managing monetary policy.
The UGX is not a cryptocurrency and does not operate on a blockchain. Its inclusion in a cryptocurrency data aggregator reflects its status as a recognized currency, often used as a reference or trading pair in the digital asset space.
The symbol for the Uganda Shilling is UGX.
The currency has undergone various reforms and revaluations throughout its history to adapt to economic changes.
Understanding the Uganda Shilling is important for anyone engaging in economic activities or financial analysis related to Uganda.
As a fiat currency, its value can fluctuate based on various economic factors, including inflation, interest rates, and the country's economic performance.
The Bank of Uganda continuously monitors these factors to ensure the smooth functioning of the economy.
The UGX is part of the global financial system and interacts with other currencies through foreign exchange markets.
Its role is central to the daily economic life of Ugandans.
The 'decimals' field associated with the UGX in the provided data (8) is typically relevant for digital representations of currencies, indicating the number of subdivisions per unit. However, for a native fiat currency, this attribute might refer to its digital representation or a specific system's handling of its value.
The 'token_standard' and 'contract_address' fields are null, further confirming that UGX is not a token on a blockchain but a traditional currency.
Trust & methodology
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Data source: Price and volume snapshots are maintained from the current Gygaz market dataset for this asset.
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