Convert Panamanian Balboa to Jamaican Dollar
Please provide values below to convert Panamanian Balboa [PAB] to Jamaican Dollar [JMD], or Convert Jamaican Dollar to Panamanian Balboa.
How to Convert Panamanian Balboa to Jamaican Dollar
1 PAB = 0.0062469741219097 JMD
Example: convert 15 PAB to JMD:
15 PAB = 15 × 0.0062469741219097 JMD = 0.0937046118286455 JMD
Panamanian Balboa to Jamaican Dollar 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.
Jamaican Dollar
The Jamaican Dollar (JMD) is the official currency of Jamaica, used for all monetary transactions within the country.
History/Origin
The Jamaican Dollar was introduced in 1969, replacing the Jamaican Pound at a rate of 1 dollar = 1.5 pounds. It has undergone various redenominations and reforms over the years to stabilize the economy.
Current Use
Today, the Jamaican Dollar is widely used in everyday transactions, banking, and commerce across Jamaica, with coins and banknotes issued by the Bank of Jamaica.