Convert Peruvian Nuevo Sol to Panamanian Balboa
Please provide values below to convert Peruvian Nuevo Sol [PEN] to Panamanian Balboa [PAB], or Convert Panamanian Balboa to Peruvian Nuevo Sol.
How to Convert Peruvian Nuevo Sol to Panamanian Balboa
1 PEN = 3.5577 PAB
Example: convert 15 PEN to PAB:
15 PEN = 15 × 3.5577 PAB = 53.3655 PAB
Peruvian Nuevo Sol to Panamanian Balboa Conversion Table
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Peruvian Nuevo Sol
The Peruvian Nuevo Sol (PEN) is the official currency of Peru, used for all monetary transactions within the country.
History/Origin
Introduced in 1991 to replace the Peruvian Sol, the Nuevo Sol was established to stabilize the economy and control inflation. It has undergone several reforms and is now the stable currency of Peru.
Current Use
The Nuevo Sol is widely used in everyday transactions, banking, and financial markets in Peru. It is subdivided into 100 céntimos and remains the country's primary legal tender.
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.