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Uganda advised to freeze Kenya currency exchange

Kenya has advised the bank of Uganda to freeze the exchange of Kenyan banknotes.In a statement released by the Central Bank Kenya on Monday, Kenya assured Uganda of a new series of banknotes.

This means that anybody with the Kenyan notes in Uganda will have to carry them to Kenya for exchange.

Effective 31st May 2019 the Commercial Bank of Kenya issued a new series of banknotes, with a view to tackling illicit financial flows and counterfeits into the country.

The commercial Bank of Kenya also suspended currency conversion and repatriation of all Kenyan currency to restrict illicit flows into the Kenya,

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