Convert Panamanian Balboa to Israeli New Sheqel
Please provide values below to convert Panamanian Balboa [PAB] to Israeli New Sheqel [ILS], or Convert Israeli New Sheqel to Panamanian Balboa.
How to Convert Panamanian Balboa to Israeli New Sheqel
1 PAB = 0.298953662182362 ILS
Example: convert 15 PAB to ILS:
15 PAB = 15 × 0.298953662182362 ILS = 4.48430493273543 ILS
Panamanian Balboa to Israeli New Sheqel 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.
Israeli New Sheqel
The Israeli New Sheqel (ILS) is the official currency of Israel, used for everyday transactions and economic activities within the country.
History/Origin
The Israeli New Sheqel was introduced in 1985, replacing the old Sheqel at a rate of 1,000 old Sheqels to 1 New Sheqel, as part of economic reforms to stabilize the Israeli economy.
Current Use
Today, the ILS is widely used in Israel for all financial transactions, including banking, commerce, and government operations, and is also accepted in some Palestinian territories.