Convert Icelandic Króna to Panamanian Balboa
Please provide values below to convert Icelandic Króna [ISK] to Panamanian Balboa [PAB], or Convert Panamanian Balboa to Icelandic Króna.
How to Convert Icelandic Króna to Panamanian Balboa
1 ISK = 121.7115 PAB
Example: convert 15 ISK to PAB:
15 ISK = 15 × 121.7115 PAB = 1825.6725 PAB
Icelandic Króna to Panamanian Balboa Conversion Table
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Icelandic Króna
The Icelandic Króna (ISK) is the official currency of Iceland, used as the country's primary medium of exchange.
History/Origin
The Króna was introduced in 1981, replacing the Icelandic Krona at par, and has undergone various redenominations and reforms since its inception.
Current Use
The ISK is actively used in Iceland for all financial transactions, including cash, banking, and electronic payments, and is managed by the Central Bank of Iceland.
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.