Convert Panamanian Balboa to Dominican Peso
Please provide values below to convert Panamanian Balboa [PAB] to Dominican Peso [DOP], or Convert Dominican Peso to Panamanian Balboa.
How to Convert Panamanian Balboa to Dominican Peso
1 PAB = 0.016569733724379 DOP
Example: convert 15 PAB to DOP:
15 PAB = 15 × 0.016569733724379 DOP = 0.248546005865686 DOP
Panamanian Balboa to Dominican Peso Conversion Table
| Panamanian Balboa | Dominican Peso |
|---|
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.
Dominican Peso
The Dominican Peso (DOP) is the official currency of the Dominican Republic, used for everyday transactions and financial exchanges within the country.
History/Origin
The Dominican Peso was introduced in 1947, replacing the Dominican Republic peso at a rate of 1 peso to 1 peso. It has undergone various reforms and decimalization over the years to stabilize the economy and modernize the currency system.
Current Use
Today, the Dominican Peso remains the official currency of the Dominican Republic, widely used in all sectors of the economy, with banknotes and coins circulating throughout the country and in international transactions involving the Dominican Republic.