Convert Russian Ruble to Panamanian Balboa
Please provide values below to convert Russian Ruble [RUB] to Panamanian Balboa [PAB], or Convert Panamanian Balboa to Russian Ruble.
How to Convert Russian Ruble to Panamanian Balboa
1 RUB = 78.4104 PAB
Example: convert 15 RUB to PAB:
15 RUB = 15 × 78.4104 PAB = 1176.156 PAB
Russian Ruble to Panamanian Balboa Conversion Table
| Russian Ruble | Panamanian Balboa |
|---|
Russian Ruble
The Russian Ruble (RUB) is the official currency of Russia, used for everyday transactions and financial exchanges within the country.
History/Origin
The Ruble has been the currency of Russia for centuries, with origins dating back to the 13th century. It has undergone various reforms and redenominations, most notably after the Soviet Union's dissolution in 1991, establishing the modern RUB as the national currency.
Current Use
Today, the Russian Ruble is widely used throughout Russia for all forms of payment, including cash, electronic transfers, and banking transactions. It is also traded on international currency markets.
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.