Convert Malaysian Ringgit to Panamanian Balboa
Please provide values below to convert Malaysian Ringgit [MYR] to Panamanian Balboa [PAB], or Convert Panamanian Balboa to Malaysian Ringgit.
How to Convert Malaysian Ringgit to Panamanian Balboa
1 MYR = 4.2314 PAB
Example: convert 15 MYR to PAB:
15 MYR = 15 × 4.2314 PAB = 63.471 PAB
Malaysian Ringgit to Panamanian Balboa Conversion Table
| Malaysian Ringgit | Panamanian Balboa |
|---|
Malaysian Ringgit
The Malaysian Ringgit (MYR) is the official currency of Malaysia, used for all monetary transactions within the country.
History/Origin
The Ringgit was introduced in 1967, replacing the Malayan dollar. It was initially pegged to the British Pound and later to the US Dollar, with a floating exchange rate established in 1998.
Current Use
The MYR is widely used in Malaysia for everyday transactions, banking, and international trade, and is managed by Bank Negara Malaysia, the country's central bank.
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.