Uganda’s central bank cuts banknote printing costs
Improved processing and new reissuance guidelines streamline banknote management, report says
The Bank of Uganda saved 45.52 billion shillings ($13 million) in banknote printing costs over the last financial year, due to improved processing and new issuance guidelines.
A “general decline in [the] total demand for money” was also a factor in reducing the central bank’s currency costs, the central bank said in its latest annual report.
According to the report, the cost of banknote printing declined 23.6% for the 2020–21 financial year, from 193 billion shillings to 147.5 billion
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