Convert Panamanian Balboa to Swedish Krona
Please provide values below to convert Panamanian Balboa [PAB] to Swedish Krona [SEK], or Convert Swedish Krona to Panamanian Balboa.
How to Convert Panamanian Balboa to Swedish Krona
1 PAB = 0.104774577496516 SEK
Example: convert 15 PAB to SEK:
15 PAB = 15 × 0.104774577496516 SEK = 1.57161866244774 SEK
Panamanian Balboa to Swedish Krona 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.
Swedish Krona
The Swedish Krona (SEK) is the official currency of Sweden, used for everyday transactions and monetary exchanges within the country.
History/Origin
The Swedish Krona was introduced in 1873, replacing the Riksdaler. It was initially pegged to gold and later transitioned to a floating exchange rate system. The currency has undergone various reforms, including decimalization in 1874 and modernization efforts in the 20th and 21st centuries.
Current Use
Today, the Swedish Krona is widely used across Sweden for all financial transactions, including cash, digital payments, and banking, and is recognized as a stable and integral part of the country's economy.