Convert Panamanian Balboa to South Korean Won
Please provide values below to convert Panamanian Balboa [PAB] to South Korean Won [KRW], or Convert South Korean Won to Panamanian Balboa.
How to Convert Panamanian Balboa to South Korean Won
1 PAB = 0.000723290055513958 KRW
Example: convert 15 PAB to KRW:
15 PAB = 15 × 0.000723290055513958 KRW = 0.0108493508327094 KRW
Panamanian Balboa to South Korean Won 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.
South Korean Won
The South Korean Won (KRW) is the official currency of South Korea, used for all monetary transactions within the country.
History/Origin
The Won was first introduced in 1945, replacing the Korean yen. It has undergone several redenominations and reforms, with the current form established in 1962 to stabilize the economy after periods of inflation.
Current Use
Today, the South Korean Won is widely used in South Korea for everyday transactions, banking, and international trade, and is managed by the Bank of Korea.