Convert Tanzanian Shilling to Panamanian Balboa
Please provide values below to convert Tanzanian Shilling [TZS] to Panamanian Balboa [PAB], or Convert Panamanian Balboa to Tanzanian Shilling.
How to Convert Tanzanian Shilling to Panamanian Balboa
1 TZS = 2570.1212 PAB
Example: convert 15 TZS to PAB:
15 TZS = 15 × 2570.1212 PAB = 38551.818 PAB
Tanzanian Shilling to Panamanian Balboa Conversion Table
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Tanzanian Shilling
The Tanzanian Shilling (TZS) is the official currency of Tanzania, used for everyday transactions within the country.
History/Origin
Introduced in 1966, replacing the East African Shilling, the Tanzanian Shilling has undergone various redenominations and reforms to stabilize the economy and modernize the currency system.
Current Use
Today, the Tanzanian Shilling is widely used in Tanzania for all forms of financial transactions, including cash payments, banking, and trade, and is managed by the Bank of Tanzania.
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.