Convert Panamanian Balboa to Australian Dollar
Please provide values below to convert Panamanian Balboa [PAB] to Australian Dollar [AUD], or Convert Australian Dollar to Panamanian Balboa.
How to Convert Panamanian Balboa to Australian Dollar
1 PAB = 0.653936698927544 AUD
Example: convert 15 PAB to AUD:
15 PAB = 15 × 0.653936698927544 AUD = 9.80905048391316 AUD
Panamanian Balboa to Australian Dollar 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.
Australian Dollar
The Australian Dollar (AUD) is the official currency of Australia, used in its territories and some Pacific Island nations.
History/Origin
Introduced in 1966, replacing the Australian pound, the AUD was initially pegged to the British pound and later transitioned to a floating exchange rate system in 1983.
Current Use
The AUD is widely used in Australia and its territories, serving as a major currency in international trade and finance, and is one of the most traded currencies globally.