Convert Panamanian Balboa to Cape Verdean Escudo
Please provide values below to convert Panamanian Balboa [PAB] to Cape Verdean Escudo [CVE], or Convert Cape Verdean Escudo to Panamanian Balboa.
How to Convert Panamanian Balboa to Cape Verdean Escudo
1 PAB = 0.0106396900871071 CVE
Example: convert 15 PAB to CVE:
15 PAB = 15 × 0.0106396900871071 CVE = 0.159595351306607 CVE
Panamanian Balboa to Cape Verdean Escudo Conversion Table
| Panamanian Balboa | Cape Verdean Escudo |
|---|
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.
Cape Verdean Escudo
The Cape Verdean Escudo (CVE) is the official currency of Cape Verde, used for all monetary transactions within the country.
History/Origin
Introduced in 1914, the Escudo replaced the Cape Verdean real and has undergone various reforms, with the current version established in 1992 to stabilize the economy and modernize the currency system.
Current Use
The CVE is actively used as the legal tender in Cape Verde, with banknotes and coins circulating nationwide, and it is pegged to the Euro at a fixed rate for stability.