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With the deadline for exchanging old bank notes with the new ones soon expiring, the central bank governor now warns the public to use the remaining two months to expeditiously exchange them since they will not be legal tender after 31st December 2013.

Speaking to reporters at the bank in Kampala, the governorEmmanuel Mutebire mentions that the general public can only exchanges the old notes with new ones at BOU branches and currency exchange centers countrywide.

Among the notes to be exchanged include, UGX.1000, 5000/=, 10,000/=,20,000/= and 50,000/=.
in A related development the central bank has maintained the lending rates at 12% for the month November with anticipation that core inflation is projected to decline to the bank’s target of 5% in a medium term with the real economic growth now close to the economy’s long term potential of 6-7% growth.

On announcing the rate, central bank governor, Emmanuel Tumusiime Mutebire confirms that inflation outlook over the medium term is still subject to a degree of uncertainit