Usd Converter
Convert Usd to Ugx and more • 166 conversions
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Unit Explanations
United States Dollar$
Source UnitThe United States Dollar (USD) is the official currency of the United States, recognized as a legal tender in various territories and widely accepted internationally. It is subdivided into 100 smaller units called cents. The dollar is denoted by the symbol '$' and is one of the most traded currencies globally, often used as a benchmark for other currencies. Its value is influenced by various factors including economic indicators, interest rates, and geopolitical stability. As a fiat currency, the USD is not backed by a physical commodity but rather the trust in the U.S. government and economy, making it a crucial component of the global financial system, utilized in both domestic and international transactions.
Current Use
The U.S. dollar is not only the official currency of the United States but also plays a dominant role in the global economy. As the primary reserve currency held by many countries, it is used in international transactions, trade agreements, and as a benchmark for other currencies. The dollar is widely accepted for transactions in various sectors such as finance, trade, and tourism, making it a preferred currency for global commerce. It is commonly used in international markets for commodities such as oil and gold, and many countries peg their local currencies to the dollar to stabilize their economies. The dollar is also utilized in remittances, with millions of people sending money across borders in USD.
Fun Fact
The U.S. dollar is the most widely used currency for global trade.
Ugandan ShillingUGX
Target UnitThe Ugandan Shilling (UGX) is the official currency of Uganda, established as a legal tender in 1987. It is subdivided into 100 cents and is denoted by the symbol 'UGX'. The currency is issued and regulated by the Bank of Uganda, which is responsible for maintaining monetary stability and managing inflation. The shilling has undergone various changes in its physical form, from paper notes to coins, adapting to modern economic needs. The currency is crucial for all monetary transactions in Uganda, influencing trade, investment, and personal finance. It is essential for domestic and international transactions, reflecting the economic landscape and stability of the nation.
Current Use
The Ugandan Shilling is used extensively throughout Uganda for all forms of monetary transactions, including retail purchases, services, and governmental payments. It is accepted in all sectors, from agriculture to manufacturing, and plays a critical role in the economy. The currency is vital for everyday transactions, such as buying groceries, paying for utilities, and settling business expenses. Additionally, the Ugandan Shilling is also used in foreign trade, where it may be exchanged for other currencies, impacting the country’s trade balance. In recent years, the currency has been influenced by global economic trends, foreign investment, and trade policies, affecting its value against major currencies like the US Dollar and the Euro. The shilling is also used in remittance transactions, where Ugandans working abroad send money back home, contributing significantly to the local economy.
Fun Fact
The Ugandan Shilling was introduced to stabilize the economy after years of hyperinflation.
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📐Conversion Formula
= × 1.00000How to Convert
To convert to , multiply the value by 1.00000. This conversion factor represents the ratio between these two units.
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💡 Pro Tip: For the reverse conversion ( → ), divide by the conversion factor instead of multiplying.
United States Dollar
currency • Non-SI
Definition
The United States Dollar (USD) is the official currency of the United States, recognized as a legal tender in various territories and widely accepted internationally. It is subdivided into 100 smaller units called cents. The dollar is denoted by the symbol '$' and is one of the most traded currencies globally, often used as a benchmark for other currencies. Its value is influenced by various factors including economic indicators, interest rates, and geopolitical stability. As a fiat currency, the USD is not backed by a physical commodity but rather the trust in the U.S. government and economy, making it a crucial component of the global financial system, utilized in both domestic and international transactions.
History & Origin
The United States Dollar has its origins in the Spanish dollar, which was widely used in the Americas during the colonial period. The first official dollar was issued by the Continental Congress in 1775 during the American Revolutionary War. The Coinage Act of 1792 established the U.S. dollar as the country's standard unit of money, allowing for the production of coins in various denominations. The dollar was initially defined in terms of specific weights of silver and gold, reflecting the bimetallic standard prevalent at the time, leading to the establishment of the U.S. Mint for the purpose of producing coinage.
Etymology: The term 'dollar' comes from the German word 'Thaler', which referred to a silver coin that was minted in the 16th century.
Current Use
The U.S. dollar is not only the official currency of the United States but also plays a dominant role in the global economy. As the primary reserve currency held by many countries, it is used in international transactions, trade agreements, and as a benchmark for other currencies. The dollar is widely accepted for transactions in various sectors such as finance, trade, and tourism, making it a preferred currency for global commerce. It is commonly used in international markets for commodities such as oil and gold, and many countries peg their local currencies to the dollar to stabilize their economies. The dollar is also utilized in remittances, with millions of people sending money across borders in USD.
💡 Fun Facts
- •The U.S. dollar is the most widely used currency for global trade.
- •More than 60% of all foreign exchange reserves are held in USD.
- •The design of the dollar bill has not changed significantly since 1929.
📏 Real-World Examples
🔗 Related Units
Ugandan Shilling
currency • Non-SI
Definition
The Ugandan Shilling (UGX) is the official currency of Uganda, established as a legal tender in 1987. It is subdivided into 100 cents and is denoted by the symbol 'UGX'. The currency is issued and regulated by the Bank of Uganda, which is responsible for maintaining monetary stability and managing inflation. The shilling has undergone various changes in its physical form, from paper notes to coins, adapting to modern economic needs. The currency is crucial for all monetary transactions in Uganda, influencing trade, investment, and personal finance. It is essential for domestic and international transactions, reflecting the economic landscape and stability of the nation.
History & Origin
The Ugandan Shilling was introduced in 1987, replacing the East African Shilling, which had been in circulation since the 1920s. The transition to the Ugandan Shilling aimed at establishing a distinct national currency that reflects Uganda's sovereignty and economic policies. The currency was introduced during a period of economic reform and stabilization following years of political turmoil and hyperinflation. The establishment of the Ugandan Shilling represented a significant step towards financial independence for Uganda, allowing the government to better control its monetary policy and address inflationary pressures.
Etymology: The term 'shilling' originates from the Old English 'scilling', which referred to a specific unit of currency.
Current Use
The Ugandan Shilling is used extensively throughout Uganda for all forms of monetary transactions, including retail purchases, services, and governmental payments. It is accepted in all sectors, from agriculture to manufacturing, and plays a critical role in the economy. The currency is vital for everyday transactions, such as buying groceries, paying for utilities, and settling business expenses. Additionally, the Ugandan Shilling is also used in foreign trade, where it may be exchanged for other currencies, impacting the country’s trade balance. In recent years, the currency has been influenced by global economic trends, foreign investment, and trade policies, affecting its value against major currencies like the US Dollar and the Euro. The shilling is also used in remittance transactions, where Ugandans working abroad send money back home, contributing significantly to the local economy.
💡 Fun Facts
- •The Ugandan Shilling was introduced to stabilize the economy after years of hyperinflation.
- •Uganda's currency is one of the few in the world that still uses cents for subdivisions.
- •The design of Ugandan banknotes features prominent Ugandan historical figures and landmarks.
📏 Real-World Examples
🔗 Related Units
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Frequently Asked Questions
How do I convert to ?▼
To convert to , multiply your value by 1. For example, 10 equals 10 .
What is the formula for to conversion?▼
The formula is: = × 1. This conversion factor is based on international standards.
Is this to converter accurate?▼
Yes! MetricConv uses internationally standardized conversion factors from organizations like NIST and ISO. Our calculations support up to 15 decimal places of precision, making it suitable for scientific, engineering, and everyday calculations.
Can I convert back to ?▼
Absolutely! You can use the swap button (⇄) in the converter above to reverse the conversion direction, or visit our to converter.