Peoples's views about money in Uganda
May 10, 2010
Nalule Rose 67, <br>Kampala Road <br>Amin’s money had no value, and the counterfeits in circulation weighed down the economy. I will never forget when my account with a balance of two million shillings went down to sh20, 000 in 1987. They just removed two zeros. It affected my business.
Nalule Rose 67,
Kampala Road
Amin’s money had no value, and the counterfeits in circulation weighed down the economy. I will never forget when my account with a balance of two million shillings went down to sh20, 000 in 1987. They just removed two zeros. It affected my business.
Issa Kaliba, Kampala 47
Most of the currency reforms were a political game of removing faces of overthrown presidents from the bank notes. But if the new currency reform is going to stump out counterfeits, it is a great idea. In rural areas, con men use counterfeits with ignorant farmers. The circulation of fake money perpetuates poverty.
Mugenyi Muhammad, 40
The Obote II money had less value. You had to carry huge bundles of money in big denominations to buy something small like a mattress. The cut off of the two zeros in 1987 also affected my business as a news paper vendor. My capital was cut by more than half.
Ric Kanakulya 57yrs
I have never come to terms with the two zeros which were slashed off during the currency reform in 1987. Why did they remove two zeros and not one. That is the only currency reform I still dread.
Salongo John Semanda, 54
I expected the currency reforms to improve the economy but if you compare the prices of goods you realise that the change was in denominations and colour and not the value. The cost of living is high.
Luwambya Musoke, Nsambya
I vividly remember the currency reforms in 1987 when the NRM came to power. It was meant to reduce inflation. But I found it unrealistic that they had to cut off two zeros.
Kampala Road
Amin’s money had no value, and the counterfeits in circulation weighed down the economy. I will never forget when my account with a balance of two million shillings went down to sh20, 000 in 1987. They just removed two zeros. It affected my business.
Issa Kaliba, Kampala 47
Most of the currency reforms were a political game of removing faces of overthrown presidents from the bank notes. But if the new currency reform is going to stump out counterfeits, it is a great idea. In rural areas, con men use counterfeits with ignorant farmers. The circulation of fake money perpetuates poverty.
Mugenyi Muhammad, 40
The Obote II money had less value. You had to carry huge bundles of money in big denominations to buy something small like a mattress. The cut off of the two zeros in 1987 also affected my business as a news paper vendor. My capital was cut by more than half.
Ric Kanakulya 57yrs
I have never come to terms with the two zeros which were slashed off during the currency reform in 1987. Why did they remove two zeros and not one. That is the only currency reform I still dread.
Salongo John Semanda, 54
I expected the currency reforms to improve the economy but if you compare the prices of goods you realise that the change was in denominations and colour and not the value. The cost of living is high.
Luwambya Musoke, Nsambya
I vividly remember the currency reforms in 1987 when the NRM came to power. It was meant to reduce inflation. But I found it unrealistic that they had to cut off two zeros.