M87 to UGX Converter and calculator


Conversion rates
Convert M87 to UGX
Convert UGX to M87
M87 to UGX chart
M87 to UGX conversion data: Volatility and price changes of MESSIER in UGX
Last 24 hours | Last 7 days | Last 30 days | Last 90 days | |
---|---|---|---|---|
High | 0.2273 UGX | 0.2329 UGX | 0.2376 UGX | 0.5297 UGX |
Low | 0.2018 UGX | 0.1851 UGX | 0.1265 UGX | 0.1265 UGX |
Average | 0 UGX | 0 UGX | 0 UGX | 0 UGX |
Volatility | % | % | % | % |
Change | +12.06% | +33.50% | +22.32% | +0.63% |
MESSIER information
M87 to UGX market statistics
Current M87 to UGX exchange rate
MESSIER to Ugandan shilling is rising this week.More info about MESSIER on Bitget
Ugandan shilling information
About Ugandan Shilling (UGX)
The Ugandan Shilling (UGX), introduced in 1966, is the official currency of Uganda and a significant symbol of the country's economic resilience and aspirations for growth. It is commonly abbreviated as UGX and represented by the symbol USh. Replacing the East African Shilling, the Ugandan Shilling was established in the wake of Uganda’s independence, marking a new era in the nation's economic journey.
Historical Background
The introduction of the Ugandan Shilling was a pivotal step in post-independence Uganda. It symbolized the country's break from its colonial past and its commitment to forging an independent economic path. The Ugandan Shilling's establishment coincided with Uganda's broader efforts to build a self-sustaining and diversified economy.
Design and Symbolism
The design of the Ugandan Shilling reflects the country's rich cultural heritage, natural resources, and wildlife. Banknotes and coins feature images of notable Ugandan figures, local flora and fauna, and key economic activities. These designs are not just utilitarian; they narrate Uganda's history, celebrate its cultural diversity, and showcase its natural beauty, thereby instilling a sense of national identity and pride.
Economic Role
The Ugandan Shilling plays a crucial role in Uganda’s economy, which includes significant sectors like agriculture, tourism, and manufacturing. As the primary medium of exchange, it supports these sectors, enabling trade, facilitating investment, and aiding the daily financial transactions of Ugandans.
Monetary Policy and Stability
Managed by the Bank of Uganda, the Shilling has faced various economic challenges, including inflation and currency volatility. The central bank's monetary policies focus on stabilizing the Shilling, controlling inflation, and fostering a conducive environment for economic growth and stability.
International Trade and the Ugandan Shilling
In international trade, the value of the Shilling is crucial, particularly for Uganda’s exports, such as coffee, tea, and gold. A stable Shilling is essential for maintaining competitive export prices and for managing the import of essential goods.
Remittances and Economic Impact
Remittances from Ugandans working abroad, especially in the Middle East, Europe, and North America, are a significant source of foreign income. These remittances, converted into Shillings, support many families and contribute to the national economy, providing a vital buffer against economic challenges.
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M87 to UGX Conversion tables
Amount | 16:26 today | 24 hours ago | 24h change |
---|---|---|---|
0.5 M87 | Sh0.1135 | Sh0.1013 | +12.06% |
1 M87 | Sh0.2271 | Sh0.2026 | +12.06% |
5 M87 | Sh1.14 | Sh1.01 | +12.06% |
10 M87 | Sh2.27 | Sh2.03 | +12.06% |
50 M87 | Sh11.35 | Sh10.13 | +12.06% |
100 M87 | Sh22.71 | Sh20.26 | +12.06% |
500 M87 | Sh113.53 | Sh101.31 | +12.06% |
1000 M87 | Sh227.05 | Sh202.62 | +12.06% |
M87 to UGX FAQ
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