Convert Bermudan Dollar to Panamanian Balboa
Please provide values below to convert Bermudan Dollar [BMD] to Panamanian Balboa [PAB], or Convert Panamanian Balboa to Bermudan Dollar.
How to Convert Bermudan Dollar to Panamanian Balboa
1 BMD = 1 PAB
Example: convert 15 BMD to PAB:
15 BMD = 15 × 1 PAB = 15 PAB
Bermudan Dollar to Panamanian Balboa Conversion Table
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Bermudan Dollar
The Bermudan Dollar (BMD) is the official currency of Bermuda, used for all monetary transactions within the territory.
History/Origin
Introduced in 1970, the Bermudan Dollar replaced the Bermudian Pound at par, aligning Bermuda's currency with the US dollar for economic stability and convenience.
Current Use
The Bermudan Dollar is widely accepted in Bermuda, often pegged at par to the US dollar, and is used in everyday transactions, banking, and commerce within the territory.
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.