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@kfm Mon, 16 Oct 2023 12:01:30

BoU annual report approved

The Auditor General and the Bank of Uganda board have approved the central bank’s annual report for the Financial Year 2023/24 whose findings will be subject to scrutiny by Parliament’s Committee on Statutory Authorities and State Enterprises. The highlights of the report include an increase in the net value of banknotes in circulation by Shs 477 billion from Shs 6.6 trillion in June 2022 to Shs 7.1 trillion in June 2023, while that of coins increased by Shs 9.9 trillion. The increment is attributed to the high demand for cash in response to increased economic activity. “As the Bank issued more new currency to meet the economy’s demand during the period 2022/23, currency issuance costs also grew by 16% from […]

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