Uganda: Money

International Development written question – answered on 1st February 2008.

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Photo of Lee Scott Lee Scott Conservative, Ilford North

To ask the Secretary of State for International Development what currency transactions over the value of £25,000 have been made by his Department where pounds sterling were changed into local currency in Uganda in the last six months.

Photo of Gillian Merron Gillian Merron Parliamentary Under-Secretary, Department for International Development

Over the past six months the DFID Uganda office has made four transactions above the value of £25,000 where money, received in Uganda in US dollars from the Department's headquarters in the UK, was converted to Uganda shillings in-country.

US dollars ($) transformed to shillings Equivalent in £ Exchange rate ($ to shs.) Commission( 1)
August 200,000 98,080.01 1,650 0
September 200,000 99,642.31 1,755 0
October 200,000 97,148 1,727 0
November 300,000 143,929.2 1,675 0
(1) DFID Uganda has negotiated with its bankers not to charge commission on any of its transactions as we do not receive interest from the money in its accounts.

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