Convert Chilean Unit of Account (UF) to Nigerian Naira
Please provide values below to convert Chilean Unit of Account (UF) [CLF] to Nigerian Naira [NGN], or Convert Nigerian Naira to Chilean Unit of Account (UF).
How to Convert Chilean Unit Of Account (Uf) to Nigerian Naira
1 CLF = 1.62461311074801e-05 NGN
Example: convert 15 CLF to NGN:
15 CLF = 15 × 1.62461311074801e-05 NGN = 0.000243691966612202 NGN
Chilean Unit Of Account (Uf) to Nigerian Naira Conversion Table
| Chilean Unit of Account (UF) | Nigerian Naira |
|---|
Chilean Unit Of Account (Uf)
The Chilean Unit of Account (UF) is a financial unit used in Chile, primarily for indexing and legal purposes, representing a fixed value that adjusts according to inflation.
History/Origin
Introduced in 1967, the UF was established to serve as a stable reference for contracts and legal transactions, adjusting periodically based on inflation indices to preserve its value over time.
Current Use
The UF is widely used in Chile for valuing real estate, loans, and legal contracts, and it is updated daily based on the Chilean Consumer Price Index (CPI).
Nigerian Naira
The Nigerian Naira (NGN) is the official currency of Nigeria, used for all monetary transactions within the country.
History/Origin
Introduced in 1973, the Naira replaced the Nigerian pound at a rate of 2 Naira to 1 pound, and has undergone various redenominations and currency reforms since then.
Current Use
The Naira is widely used across Nigeria for everyday transactions, banking, and trade, with coins and banknotes issued by the Central Bank of Nigeria.