Convert Laotian Kip to Panamanian Balboa
Please provide values below to convert Laotian Kip [LAK] to Panamanian Balboa [PAB], or Convert Panamanian Balboa to Laotian Kip.
How to Convert Laotian Kip to Panamanian Balboa
1 LAK = 21629.4606 PAB
Example: convert 15 LAK to PAB:
15 LAK = 15 × 21629.4606 PAB = 324441.909 PAB
Laotian Kip to Panamanian Balboa Conversion Table
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Laotian Kip
The Laotian Kip (LAK) is the official currency of Laos, used for everyday transactions and monetary exchanges within the country.
History/Origin
The Laotian Kip was introduced in 1952, replacing the French Indochinese piastre, and has undergone various redenominations and reforms to stabilize the economy and control inflation.
Current Use
Today, the Kip remains the primary currency in Laos, used in all financial transactions, with coins and banknotes issued by the Bank of the Lao P.D.R. and widely accepted throughout the country.
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.