USD to UGX for business payments
Paying a supplier in Uganda is simple on the rules side: the US International Trade Administration states that Uganda has no foreign exchange controls affecting legitimate trade, and the Foreign Exchange Act, 2004 contains no rule requiring exporters to repatriate or surrender their proceeds. You can pay US dollars to the supplier's dollar account or convert to Ugandan shillings (UGX); the Act requires only that foreign currency payments go through a bank or a licensed provider.
- The US International Trade Administration states that Uganda has no foreign exchange controls affecting legitimate trade, and that businesses can invest capital and repatriate profits without restriction.
- The Foreign Exchange Act, 2004, published by the Bank of Uganda, requires foreign currency payments to or from Uganda to go through a bank, and contains no provision requiring exporters to repatriate or surrender their proceeds.
- The Act also licenses foreign exchange dealers and money remitters, so money transfers run through a licensed person rather than an informal agent.
- Centenary Bank charges an inward transfer commission of USD 8 under $500, USD 18 from $501 to $1,500, and 0.25% over $10,000, plus 15% excise duty.
- UBA Uganda lists UGX 30,000 for an inward telegraphic transfer.
The Ugandan shilling at a glance
The Ugandan shilling (UGX) is issued by the Bank of Uganda (BoU), which also publishes the Foreign Exchange Act, 2004, the law that governs foreign currency dealings. Uganda's regime is open: the US International Trade Administration states that there are no foreign exchange controls affecting legitimate trade, and that businesses can invest capital and repatriate profits without restriction. The shilling's rate against the dollar changes, so a shilling invoice carries exchange rate risk for a dollar-based buyer until it is paid.
| Item | Ugandan shilling |
|---|---|
| Currency code | UGX |
| Issuer | Bank of Uganda |
| Main law | Foreign Exchange Act, 2004 |
| Exchange controls on trade | None affecting legitimate trade |
| Foreign currency payments | Through a bank; money transfers through a licensed person |
| Export proceeds | No repatriation or surrender requirement in the Act |
| Bank charges | Inward wire charges plus 15% excise duty at Centenary Bank and UBA Uganda |
Sources: Bank of Uganda, Foreign Exchange Act, 2004; International Trade Administration, Uganda Country Commercial Guide, Trade Financing. Checked on 29 October 2026.
Ugandan rules for paying and receiving foreign currency
Uganda's rules leave the currency choice to the buyer and the supplier. Three points matter in practice:
- Through a bank. The Foreign Exchange Act, 2004 requires foreign currency payments to or from Uganda to go through a bank, and money transfers to go through a person licensed for them. Pay the supplier's account at a Ugandan bank, not an informal agent.
- Dollars can stay dollars. The Act contains no provision requiring exporters to repatriate or surrender their proceeds, so a Ugandan supplier you pay in dollars can keep them and convert when it chooses.
- Taxes are in shillings. Income received in dollars is income of the Ugandan business and is reported to the Uganda Revenue Authority in shillings, so suppliers record the shilling value on the day each payment arrives.
Imports into Uganda have their own checks, such as certificates of conformity for goods covered by the Uganda National Bureau of Standards PVoC program, but those apply to Ugandan importers, not to you as a payer. Our guide to receiving USD in Uganda covers the supplier's side.
How a payment reaches a Ugandan supplier
A dollar payment reaches a Ugandan bank by SWIFT through the bank's US correspondent, and lands in the supplier's USD account. If you send dollars to a shilling account, the bank converts them on arrival. Ugandan banks publish tariffs for both, and both banks below state that their charges attract 15% excise duty.
| Bank and item | Published charge |
|---|---|
| Centenary Bank: inward transfer commission, under $500 | USD 8 |
| Centenary Bank: inward transfer commission, $501 to $1,500 | USD 18 |
| Centenary Bank: inward transfer commission, over $10,000 | 0.25%, with a published maximum |
| UBA Uganda: inward telegraphic transfer | UGX 30,000 |
| Centenary Bank: outward foreign currency transfer | USD 10 (SHA) or USD 40 (OUR) |
Sources: Centenary Bank, Tariff Guide 2026 (effective 1 February 2026); UBA Uganda, Tariff Guide (effective 1 May 2026). Checked on 29 October 2026.
Collect the supplier's registered name, the USD account number (never the shilling account), the bank's full name, branch and SWIFT code, and the bank's US correspondent. Check the code with our SWIFT code lookup.
Some Ugandan service firms give buyers payment details from a provider instead of a bank. Eversend, for example, publishes 0.49% plus $10 for receiving USD by wire and 0.49% plus $0.49 by ACH into its Uganda business accounts. If a supplier sends you such details, check that the account is in the supplier's own company name before you pay.
What converting USD to UGX costs
A dollar to shilling conversion costs the mid-market rate, the midpoint between buying and selling prices at that moment, plus the margin your provider or the supplier's bank adds, plus the payment fee. The receiving charges are small next to the margin: on a $20,000 receipt, Centenary's 0.25% inward commission is $50 and UBA's flat UGX 30,000 is the same at any size, while a margin of 1% is $200. If you pay dollars, the supplier converts when it needs shillings and can compare the rates of more than one bank on the same day.
Helm is a financial technology company, not a bank. Its US dollar account services are provided by Bridge Building, Inc. (NMLS ID 2450917), a licensed money transmitter, with customer funds held at Lead Bank. A Helm account holds dollars in your company's own name and sends international payments to suppliers by SWIFT, or by local rails in the supplier's currency where available, with the rate, fee and expected arrival shown before you send.
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment. See how Helm pricing works.
Pay a Ugandan supplier in USD or UGX?
- Pay USD when the supplier invoices in dollars and gives a USD account. Exporters can keep the dollars, since the Act sets no repatriation deadline.
- Pay UGX when the supplier invoices in shillings, for local services or for small suppliers without a dollar account.
- Use a bank or licensed provider for either currency, as the Act requires.
Ugandan importers on the other side of the trade can read our guide to paying Chinese suppliers from Uganda.
Open a Helm account
USD, EUR and GBP accounts in your company's name, with a named account manager.
Open accountQuestions
Does Uganda have foreign exchange controls?
Not for legitimate trade. The US International Trade Administration states that Uganda has no foreign exchange controls affecting legitimate trade, and that businesses can invest capital and repatriate profits without restriction.
Do Ugandan exporters have to convert dollars to shillings?
No. The Foreign Exchange Act, 2004 contains no provision requiring exporters to repatriate or surrender their proceeds, so they can keep dollars.
How must foreign currency payments to Uganda be made?
The Foreign Exchange Act, 2004 requires foreign currency payments to or from Uganda to go through a bank, and money transfers to go through a licensed person.
What does a Ugandan bank charge to receive a wire?
Centenary Bank charges USD 8 under $500, USD 18 from $501 to $1,500 and 0.25% over $10,000, and UBA Uganda lists UGX 30,000 for an inward telegraphic transfer, both plus 15% excise duty.
Should I pay a Ugandan supplier in USD or UGX?
Pay in the invoice currency to the matching account. A supplier paid in dollars can keep them, because the Foreign Exchange Act sets no repatriation or surrender rule.
What does Helm charge to pay a supplier in Uganda?
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment.
References
- Bank of Uganda: Foreign Exchange Act, 2004
- International Trade Administration: Uganda Country Commercial Guide, Trade Financing
- Centenary Bank: Tariff Guide 2026
- UBA Uganda: Tariff Guide (effective 1 May 2026)
- Eversend: Receive USD, Uganda business accounts
This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.