Convert New Zealand Dollar to Panamanian Balboa
Please provide values below to convert New Zealand Dollar [NZD] to Panamanian Balboa [PAB], or Convert Panamanian Balboa to New Zealand Dollar.
How to Convert New Zealand Dollar to Panamanian Balboa
1 NZD = 1.669 PAB
Example: convert 15 NZD to PAB:
15 NZD = 15 × 1.669 PAB = 25.035 PAB
New Zealand Dollar to Panamanian Balboa Conversion Table
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New Zealand Dollar
The New Zealand Dollar (NZD) is the official currency of New Zealand and its territories, used for everyday transactions and financial exchanges.
History/Origin
Introduced in 1967, replacing the New Zealand Pound, the NZD was initially pegged to the British Pound and later adopted a floating exchange rate system. It has undergone various reforms and is now managed by the Reserve Bank of New Zealand.
Current Use
The NZD is widely used in New Zealand and is also accepted in some Pacific Island nations. It is actively traded in international currency markets and is a key component of the country's economy.
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.