Convert Iranian Rial to Panamanian Balboa
Please provide values below to convert Iranian Rial [IRR] to Panamanian Balboa [PAB], or Convert Panamanian Balboa to Iranian Rial.
How to Convert Iranian Rial to Panamanian Balboa
1 IRR = 42437.6837 PAB
Example: convert 15 IRR to PAB:
15 IRR = 15 × 42437.6837 PAB = 636565.2555 PAB
Iranian Rial to Panamanian Balboa Conversion Table
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Iranian Rial
The Iranian Rial (IRR) is the official currency of Iran, used for everyday transactions and pricing within the country.
History/Origin
The Iranian Rial was introduced in 1932, replacing the Iranian Toman. It has undergone several redenominations and inflation periods, with the current form established in 2002 to address hyperinflation.
Current Use
Today, the IRR is the primary currency used in Iran for all financial transactions, though the currency experiences high inflation and is often used alongside other forms of payment such as digital currencies and foreign currencies in certain contexts.
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.