Convert Panamanian Balboa to Cayman Islands Dollar
Please provide values below to convert Panamanian Balboa [PAB] to Cayman Islands Dollar [KYD], or Convert Cayman Islands Dollar to Panamanian Balboa.
How to Convert Panamanian Balboa to Cayman Islands Dollar
1 PAB = 1.20004800192008 KYD
Example: convert 15 PAB to KYD:
15 PAB = 15 × 1.20004800192008 KYD = 18.0007200288012 KYD
Panamanian Balboa to Cayman Islands Dollar Conversion Table
| Panamanian Balboa | Cayman Islands Dollar |
|---|
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.
Cayman Islands Dollar
The Cayman Islands Dollar (KYD) is the official currency of the Cayman Islands, used for all monetary transactions within the territory.
History/Origin
Introduced in 1972, the Cayman Islands Dollar replaced the Jamaican dollar at par, establishing a stable local currency for the financial sector and tourism industry.
Current Use
The KYD is widely used in the Cayman Islands for everyday transactions, banking, and international trade, and is pegged to the US dollar at a fixed rate of 1 KYD = 1.20 USD.