Convert Chilean Unit of Account (UF) to Panamanian Balboa
Please provide values below to convert Chilean Unit of Account (UF) [CLF] to Panamanian Balboa [PAB], or Convert Panamanian Balboa to Chilean Unit of Account (UF).
How to Convert Chilean Unit Of Account (Uf) to Panamanian Balboa
1 CLF = 0.024868 PAB
Example: convert 15 CLF to PAB:
15 CLF = 15 × 0.024868 PAB = 0.37302 PAB
Chilean Unit Of Account (Uf) to Panamanian Balboa Conversion Table
| Chilean Unit of Account (UF) | Panamanian Balboa |
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Chilean Unit Of Account (Uf)
The Chilean Unit of Account (UF) is a financial unit used in Chile, primarily for indexing and legal purposes, representing a fixed value that adjusts according to inflation.
History/Origin
Introduced in 1967, the UF was established to serve as a stable reference for contracts and legal transactions, adjusting periodically based on inflation indices to preserve its value over time.
Current Use
The UF is widely used in Chile for valuing real estate, loans, and legal contracts, and it is updated daily based on the Chilean Consumer Price Index (CPI).
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.