Convert Panamanian Balboa to Somali Shilling
Please provide values below to convert Panamanian Balboa [PAB] to Somali Shilling [SOS], or Convert Somali Shilling to Panamanian Balboa.
How to Convert Panamanian Balboa to Somali Shilling
1 PAB = 0.00174996622565184 SOS
Example: convert 15 PAB to SOS:
15 PAB = 15 × 0.00174996622565184 SOS = 0.0262494933847777 SOS
Panamanian Balboa to Somali Shilling Conversion Table
| Panamanian Balboa | Somali Shilling |
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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.
Somali Shilling
The Somali Shilling (SOS) is the official currency of Somalia, used for everyday transactions and monetary exchanges within the country.
History/Origin
The Somali Shilling was introduced in 1962, replacing the Somali Somali shilling, and has undergone various reforms and devaluations due to economic challenges and civil unrest over the decades.
Current Use
Today, the Somali Shilling remains the official currency of Somalia, used in cash transactions, with banknotes and coins issued by the Central Bank of Somalia. It is also used in some neighboring regions and for remittances.