Convert Panamanian Balboa to Saudi Riyal
Please provide values below to convert Panamanian Balboa [PAB] to Saudi Riyal [SAR], or Convert Saudi Riyal to Panamanian Balboa.
How to Convert Panamanian Balboa to Saudi Riyal
1 PAB = 0.266666666666667 SAR
Example: convert 15 PAB to SAR:
15 PAB = 15 × 0.266666666666667 SAR = 4 SAR
Panamanian Balboa to Saudi Riyal 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.
Saudi Riyal
The Saudi Riyal (SAR) is the official currency of Saudi Arabia, used for all monetary transactions within the country.
History/Origin
The Saudi Riyal was introduced in 1925, replacing the Indian Rupee, and has undergone various reforms, including decimalization in 1929. It is issued and regulated by the Saudi Central Bank.
Current Use
The SAR is widely used in Saudi Arabia for everyday transactions, banking, and international trade, and is pegged to the US dollar at a fixed rate.