Convert Panamanian Balboa to Tanzanian Shilling
Please provide values below to convert Panamanian Balboa [PAB] to Tanzanian Shilling [TZS], or Convert Tanzanian Shilling to Panamanian Balboa.
How to Convert Panamanian Balboa to Tanzanian Shilling
1 PAB = 0.000389086709218227 TZS
Example: convert 15 PAB to TZS:
15 PAB = 15 × 0.000389086709218227 TZS = 0.0058363006382734 TZS
Panamanian Balboa to Tanzanian Shilling Conversion Table
| Panamanian Balboa | Tanzanian Shilling |
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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.
Tanzanian Shilling
The Tanzanian Shilling (TZS) is the official currency of Tanzania, used for everyday transactions within the country.
History/Origin
Introduced in 1966, replacing the East African Shilling, the Tanzanian Shilling has undergone various redenominations and reforms to stabilize the economy and modernize the currency system.
Current Use
Today, the Tanzanian Shilling is widely used in Tanzania for all forms of financial transactions, including cash payments, banking, and trade, and is managed by the Bank of Tanzania.