Convert Mozambican Metical to Panamanian Balboa
Please provide values below to convert Mozambican Metical [MZN] to Panamanian Balboa [PAB], or Convert Panamanian Balboa to Mozambican Metical.
How to Convert Mozambican Metical to Panamanian Balboa
1 MZN = 63.6223 PAB
Example: convert 15 MZN to PAB:
15 MZN = 15 × 63.6223 PAB = 954.3345 PAB
Mozambican Metical to Panamanian Balboa Conversion Table
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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.
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.