BOU should swing into action over the dollar issue
Jun 28, 2009
EDITOR—On June 26, I went to a forex bureau on Grand Imperial Hotel in Kampala to change money. I had $200 all in 20-dollar notes. At a rate of 2095 as displayed on their noticeboard, I expected to get sh419,000 but was surprised when the cashier gave m
EDITOR—On June 26, I went to a forex bureau on Grand Imperial Hotel in Kampala to change money. I had $200 all in 20-dollar notes. At a rate of 2095 as displayed on their noticeboard, I expected to get sh419,000 but was surprised when the cashier gave me sh400,000.
When I inquired, the cashier shamelessly told me it was because I had smaller denominations. My friends who had accompanied me told me that is how it has been in all forex bureaux in Kampala since time immemorial, and nobody ever seem to raise a finger!
I have visited many countries but have not witnessed such form of cheating. It is outrageous! A dollar is a dollar in whichever denomination.
Do these forex bureau proprietors mean when you go to them to buy dollars and you want them in smaller denominations they will give them to you at a rate lower than those buying large denominations?
What does the government say about this? Can Bank of Uganda swing into action and stop this daylight robbery?
Norah Kitson
Tourist in Uganda
When I inquired, the cashier shamelessly told me it was because I had smaller denominations. My friends who had accompanied me told me that is how it has been in all forex bureaux in Kampala since time immemorial, and nobody ever seem to raise a finger!
I have visited many countries but have not witnessed such form of cheating. It is outrageous! A dollar is a dollar in whichever denomination.
Do these forex bureau proprietors mean when you go to them to buy dollars and you want them in smaller denominations they will give them to you at a rate lower than those buying large denominations?
What does the government say about this? Can Bank of Uganda swing into action and stop this daylight robbery?
Norah Kitson
Tourist in Uganda