Bank of Uganda has cautioned the public against any practice that mutilates, defaces, or compromises the integrity of Uganda Shilling currency.
Kenneth Egesa, BoU Director Communications said that florists, designers, gifting stylists, and their clients are particularly cautioned to avoid using currency banknotes and coins in making bouquets or any like creations.
Egesa added that this practice involves the use of brand-new banknotes that are stuck together using glue, cello-tape, pins, clips, and other adhesives or fasteners as part of floral bouquets for various social events and gifting ceremonies.
“This practice destroys the utility of banknotes making them unusable in cash processing and distribution equipment such as cash counting machines and ATMs, which are a critical part of the cash distribution systems,” Egesa noted
He further noted that the practice also results in the premature withdrawal from circulation and replacement of banknotes at an avoidable cost to the public.
Whereas the Bank does not object to using cash as a gift, the exchange should conform to the normal use of currency to facilitate payment transactions.
“Bank of Uganda is committed to safeguarding the integrity of the national currency in circulation to fulfill its functionality as a medium of exchange, and store of value,” he guided.
