Convert Eritrean Nakfa to Panamanian Balboa
Please provide values below to convert Eritrean Nakfa [ERN] to Panamanian Balboa [PAB], or Convert Panamanian Balboa to Eritrean Nakfa.
How to Convert Eritrean Nakfa to Panamanian Balboa
1 ERN = 15 PAB
Example: convert 15 ERN to PAB:
15 ERN = 15 × 15 PAB = 225 PAB
Eritrean Nakfa to Panamanian Balboa Conversion Table
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Eritrean Nakfa
The Eritrean Nakfa (ERN) is the official currency of Eritrea, used for all monetary transactions within the country.
History/Origin
The Nakfa was introduced in 1997, replacing the Ethiopian Birr as Eritrea's national currency, to establish economic independence and stabilize the economy after independence in 1993.
Current Use
The ERN is actively used as the primary currency in Eritrea for everyday transactions, banking, and trade, with its value regulated by the country's central bank.
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.