Convert Philippine Peso to Panamanian Balboa
Please provide values below to convert Philippine Peso [PHP] to Panamanian Balboa [PAB], or Convert Panamanian Balboa to Philippine Peso.
How to Convert Philippine Peso to Panamanian Balboa
1 PHP = 56.9423 PAB
Example: convert 15 PHP to PAB:
15 PHP = 15 × 56.9423 PAB = 854.1345 PAB
Philippine Peso to Panamanian Balboa Conversion Table
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Philippine Peso
The Philippine Peso (PHP) is the official currency of the Philippines, used for all monetary transactions within the country.
History/Origin
The Philippine Peso was first introduced during the Spanish colonial period in the 16th century and has undergone various reforms and changes in design and denomination over the years, becoming the official currency of the Philippines in 1946 after independence.
Current Use
Today, the PHP is widely used in everyday transactions, banking, and commerce in the Philippines, and it is also traded in foreign exchange markets 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.