Convert Panamanian Balboa to Mexican Peso
Please provide values below to convert Panamanian Balboa [PAB] to Mexican Peso [MXN], or Convert Mexican Peso to Panamanian Balboa.
How to Convert Panamanian Balboa to Mexican Peso
1 PAB = 0.053635983308482 MXN
Example: convert 15 PAB to MXN:
15 PAB = 15 × 0.053635983308482 MXN = 0.80453974962723 MXN
Panamanian Balboa to Mexican Peso 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.
Mexican Peso
The Mexican Peso (MXN) is the official currency of Mexico, used for everyday transactions and financial exchanges within the country.
History/Origin
The Mexican Peso originated in the 19th century, evolving from the Spanish dollar and undergoing various reforms. It was decimalized in 1905 and has experienced multiple currency reforms, including the introduction of the current peso in 1993 to stabilize the economy.
Current Use
Today, the Mexican Peso is widely used in Mexico for all forms of payment, both cash and electronic, and is one of the most traded currencies in Latin America.