The Bank of Uganda (BOU) has issued a warning to the public, advising against the practice of using banknotes folded into bouquets and hampers as gifts during various celebrations, including weddings and birthdays.
The practice of presenting banknotes in decorative forms has gained popularity during celebrations.
Kenneth Egesa, the Director of Communications at BOU, said that while the bank does not object to the use of cash as a gift, the folding of banknotes into decorative arrangements compromises the integrity of the Uganda Shilling currency.
In a statement, Egesa stated, “Whereas the Bank does not object to using cash as a gift, this exchange should conform to the normal use of currency to facilitate payment transactions.”
He further stated that the Bank of Uganda is dedicated to upholding the integrity of the national currency in circulation, ensuring its proper functionality as a medium of exchange and store of value.