Convert Malagasy Ariary to Panamanian Balboa
Please provide values below to convert Malagasy Ariary [MGA] to Panamanian Balboa [PAB], or Convert Panamanian Balboa to Malagasy Ariary.
How to Convert Malagasy Ariary to Panamanian Balboa
1 MGA = 4428.2714 PAB
Example: convert 15 MGA to PAB:
15 MGA = 15 × 4428.2714 PAB = 66424.071 PAB
Malagasy Ariary to Panamanian Balboa Conversion Table
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Malagasy Ariary
The Malagasy Ariary (MGA) is the official currency of Madagascar, used for all monetary transactions within the country.
History/Origin
The Ariary was introduced in 1961, replacing the Malagasy franc, and was initially pegged to the French franc. It was revalued in 2005, establishing the current decimal system and modernizing the currency.
Current Use
The MGA is actively used as Madagascar's legal tender, with coins and banknotes circulating throughout the country for everyday transactions and commerce.
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.