Convert Cape Verdean Escudo to Panamanian Balboa
Please provide values below to convert Cape Verdean Escudo [CVE] to Panamanian Balboa [PAB], or Convert Panamanian Balboa to Cape Verdean Escudo.
How to Convert Cape Verdean Escudo to Panamanian Balboa
1 CVE = 93.9877 PAB
Example: convert 15 CVE to PAB:
15 CVE = 15 × 93.9877 PAB = 1409.8155 PAB
Cape Verdean Escudo to Panamanian Balboa Conversion Table
| Cape Verdean Escudo | Panamanian Balboa |
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Cape Verdean Escudo
The Cape Verdean Escudo (CVE) is the official currency of Cape Verde, used for all monetary transactions within the country.
History/Origin
Introduced in 1914, the Escudo replaced the Cape Verdean real and has undergone various reforms, with the current version established in 1992 to stabilize the economy and modernize the currency system.
Current Use
The CVE is actively used as the legal tender in Cape Verde, with banknotes and coins circulating nationwide, and it is pegged to the Euro at a fixed rate for stability.
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.