Convert Panamanian Balboa to New Zealand Dollar
Please provide values below to convert Panamanian Balboa [PAB] to New Zealand Dollar [NZD], or Convert New Zealand Dollar to Panamanian Balboa.
How to Convert Panamanian Balboa to New Zealand Dollar
1 PAB = 0.599161174355902 NZD
Example: convert 15 PAB to NZD:
15 PAB = 15 × 0.599161174355902 NZD = 8.98741761533853 NZD
Panamanian Balboa to New Zealand Dollar Conversion Table
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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.
New Zealand Dollar
The New Zealand Dollar (NZD) is the official currency of New Zealand and its territories, used for everyday transactions and financial exchanges.
History/Origin
Introduced in 1967, replacing the New Zealand Pound, the NZD was initially pegged to the British Pound and later adopted a floating exchange rate system. It has undergone various reforms and is now managed by the Reserve Bank of New Zealand.
Current Use
The NZD is widely used in New Zealand and is also accepted in some Pacific Island nations. It is actively traded in international currency markets and is a key component of the country's economy.