Convert Panamanian Balboa to Thai Baht
Please provide values below to convert Panamanian Balboa [PAB] to Thai Baht [THB], or Convert Thai Baht to Panamanian Balboa.
How to Convert Panamanian Balboa to Thai Baht
1 PAB = 0.0310437530655706 THB
Example: convert 15 PAB to THB:
15 PAB = 15 × 0.0310437530655706 THB = 0.465656295983559 THB
Panamanian Balboa to Thai Baht 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.
Thai Baht
The Thai Baht (THB) is the official currency of Thailand, used for all monetary transactions within the country.
History/Origin
The Thai Baht has been the official currency of Thailand since the late 19th century, evolving from the traditional tical and undergoing various reforms, including decimalization in 1897 and a series of currency reforms to stabilize its value.
Current Use
The Thai Baht is widely used in Thailand for everyday transactions, banking, and international trade. It is also traded on the foreign exchange market and is considered a stable currency in Southeast Asia.