Convert Panamanian Balboa to British Pound Sterling
Please provide values below to convert Panamanian Balboa [PAB] to British Pound Sterling [GBP], or Convert British Pound Sterling to Panamanian Balboa.
How to Convert Panamanian Balboa to British Pound Sterling
1 PAB = 1.35098621994056 GBP
Example: convert 15 PAB to GBP:
15 PAB = 15 × 1.35098621994056 GBP = 20.2647932991084 GBP
Panamanian Balboa to British Pound Sterling 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.
British Pound Sterling
The British Pound Sterling (GBP) is the official currency of the United Kingdom and its territories, used as a standard unit of monetary value.
History/Origin
The Pound Sterling is one of the oldest currencies still in use, dating back to the 8th century. It was originally a silver coin and has evolved through various forms, including the gold standard and fiat currency, becoming the UK's primary currency in the 19th century.
Current Use
Today, the GBP is widely used in the UK and its territories, serving as the main currency for everyday transactions, banking, and international trade. It is also a major reserve currency globally.