Convert Norwegian Krone to Panamanian Balboa
Please provide values below to convert Norwegian Krone [NOK] to Panamanian Balboa [PAB], or Convert Panamanian Balboa to Norwegian Krone.
How to Convert Norwegian Krone to Panamanian Balboa
1 NOK = 10.1118 PAB
Example: convert 15 NOK to PAB:
15 NOK = 15 × 10.1118 PAB = 151.677 PAB
Norwegian Krone to Panamanian Balboa Conversion Table
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Norwegian Krone
The Norwegian Krone (NOK) is the official currency of Norway, used for everyday transactions and monetary exchanges within the country.
History/Origin
The Norwegian Krone was introduced in 1875, replacing the Norwegian Speciedaler, and has undergone various reforms, including decimalization in 1875 and decimal standardization in 1963. It has been Norway's official currency since then.
Current Use
The NOK is actively used in Norway for all financial transactions, including banking, commerce, and international trade. It is also traded on the foreign exchange market and is considered a stable currency within the region.
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.