Convert Uruguayan Peso to Panamanian Balboa
Please provide values below to convert Uruguayan Peso [UYU] to Panamanian Balboa [PAB], or Convert Panamanian Balboa to Uruguayan Peso.
How to Convert Uruguayan Peso to Panamanian Balboa
1 UYU = 40.2999 PAB
Example: convert 15 UYU to PAB:
15 UYU = 15 × 40.2999 PAB = 604.4985 PAB
Uruguayan Peso to Panamanian Balboa Conversion Table
| Uruguayan Peso | Panamanian Balboa |
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Uruguayan Peso
The Uruguayan Peso (UYU) is the official currency of Uruguay, used for all monetary transactions within the country.
History/Origin
Introduced in 1993 to replace the Uruguayan Peso Moneda Nacional, the UYU has undergone various redenominations and monetary reforms to stabilize the economy and control inflation.
Current Use
The UYU is widely used in Uruguay for everyday transactions, banking, and trade, and is also accepted in some border regions of neighboring countries.
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.