Convert Panamanian Balboa to Chinese Yuan
Please provide values below to convert Panamanian Balboa [PAB] to Chinese Yuan [CNY], or Convert Chinese Yuan to Panamanian Balboa.
How to Convert Panamanian Balboa to Chinese Yuan
1 PAB = 0.139394192837926 CNY
Example: convert 15 PAB to CNY:
15 PAB = 15 × 0.139394192837926 CNY = 2.0909128925689 CNY
Panamanian Balboa to Chinese Yuan Conversion Table
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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.
Chinese Yuan
The Chinese Yuan (CNY) is the official currency of China, also known as Renminbi (RMB), and is used for all monetary transactions within the country.
History/Origin
The Chinese Yuan was introduced in 1949 following the establishment of the People's Republic of China. It has undergone various reforms and reforms, including decimalization in the 1950s and modernization efforts in recent decades to stabilize and internationalize the currency.
Current Use
Today, the CNY is widely used domestically across China and is increasingly recognized internationally, with the Chinese government promoting its use in global trade and finance. It is also a component of the International Monetary Fund's Special Drawing Rights (SDR).