Convert Panamanian Balboa to Euro
Please provide values below to convert Panamanian Balboa [PAB] to Euro [EUR], or Convert Euro to Panamanian Balboa.
How to Convert Panamanian Balboa to Euro
1 PAB = 1.17274539697432 EUR
Example: convert 15 PAB to EUR:
15 PAB = 15 × 1.17274539697432 EUR = 17.5911809546148 EUR
Panamanian Balboa to Euro Conversion Table
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Panamanian Balboa
The Panamanian Balboa (PAB) is the official currency of Panama, subdivided into 100 centésimos, used primarily for coinage alongside the US dollar.
History/Origin
Introduced in 1904, the Balboa was established as Panama's official currency to promote national identity, initially backed by gold, but since 1941 it has been pegged at par to the US dollar, which is also widely accepted in the country.
Current Use
Today, the Balboa is mainly used for coinage and official transactions within Panama, with the US dollar serving as the primary currency for most practical purposes, including banking and commerce.
Euro
The euro (EUR) is the official currency of the Eurozone, used by 19 of the 27 European Union member states, and is one of the world's major reserve currencies.
History/Origin
The euro was introduced in electronic form in 1999 and banknotes and coins entered circulation on January 1, 2002, replacing national currencies and fostering economic integration within the Eurozone.
Current Use
The euro is widely used across the Eurozone countries for everyday transactions, international trade, and as a reserve currency held by central banks worldwide.