Convert British Pound Sterling to Panamanian Balboa
Please provide values below to convert British Pound Sterling [GBP] to Panamanian Balboa [PAB], or Convert Panamanian Balboa to British Pound Sterling.
How to Convert British Pound Sterling to Panamanian Balboa
1 GBP = 0.7402 PAB
Example: convert 15 GBP to PAB:
15 GBP = 15 × 0.7402 PAB = 11.103 PAB
British Pound Sterling to Panamanian Balboa Conversion Table
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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.
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.