Convert Chilean Unit of Account (UF) to Laotian Kip
Please provide values below to convert Chilean Unit of Account (UF) [CLF] to Laotian Kip [LAK], or Convert Laotian Kip to Chilean Unit of Account (UF).
How to Convert Chilean Unit Of Account (Uf) to Laotian Kip
1 CLF = 1.14972816289279e-06 LAK
Example: convert 15 CLF to LAK:
15 CLF = 15 × 1.14972816289279e-06 LAK = 1.72459224433919e-05 LAK
Chilean Unit Of Account (Uf) to Laotian Kip Conversion Table
| Chilean Unit of Account (UF) | Laotian Kip |
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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).
Laotian Kip
The Laotian Kip (LAK) is the official currency of Laos, used for everyday transactions and monetary exchanges within the country.
History/Origin
The Laotian Kip was introduced in 1952, replacing the French Indochinese piastre, and has undergone various redenominations and reforms to stabilize the economy and control inflation.
Current Use
Today, the Kip remains the primary currency in Laos, used in all financial transactions, with coins and banknotes issued by the Bank of the Lao P.D.R. and widely accepted throughout the country.