Convert Moroccan Dirham to Panamanian Balboa
Please provide values below to convert Moroccan Dirham [MAD] to Panamanian Balboa [PAB], or Convert Panamanian Balboa to Moroccan Dirham.
How to Convert Moroccan Dirham to Panamanian Balboa
1 MAD = 9.0083 PAB
Example: convert 15 MAD to PAB:
15 MAD = 15 × 9.0083 PAB = 135.1245 PAB
Moroccan Dirham to Panamanian Balboa Conversion Table
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Moroccan Dirham
The Moroccan Dirham (MAD) is the official currency of Morocco, used for everyday transactions and issued by the Bank of Morocco.
History/Origin
The Dirham was introduced in 1960, replacing the Moroccan franc, and has undergone various reforms to modernize and stabilize the currency, including decimalization and currency reforms in the 21st century.
Current Use
The MAD is widely used across Morocco for all forms of payment, including cash, electronic transactions, and banking, and is also accepted in some neighboring regions for specific transactions.
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.