Convert Panamanian Balboa to Mozambican Metical
Please provide values below to convert Panamanian Balboa [PAB] to Mozambican Metical [MZN], or Convert Mozambican Metical to Panamanian Balboa.
How to Convert Panamanian Balboa to Mozambican Metical
1 PAB = 0.0157177593390997 MZN
Example: convert 15 PAB to MZN:
15 PAB = 15 × 0.0157177593390997 MZN = 0.235766390086495 MZN
Panamanian Balboa to Mozambican Metical 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.
Mozambican Metical
The Mozambican Metical (MZN) is the official currency of Mozambique, used for all monetary transactions within the country.
History/Origin
The Metical was introduced in 1980, replacing the Mozambique Escudo, to stabilize the economy and modernize the monetary system. It has undergone several redenominations and reforms since its inception.
Current Use
The Metical is actively used as Mozambique's primary currency for everyday transactions, banking, and trade. It is issued and regulated by the Bank of Mozambique.