Convert Costa Rican Colón to Panamanian Balboa
Please provide values below to convert Costa Rican Colón [CRC] to Panamanian Balboa [PAB], or Convert Panamanian Balboa to Costa Rican Colón.
How to Convert Costa Rican Colón to Panamanian Balboa
1 CRC = 504.32 PAB
Example: convert 15 CRC to PAB:
15 CRC = 15 × 504.32 PAB = 7564.8 PAB
Costa Rican Colón to Panamanian Balboa Conversion Table
| Costa Rican Colón | Panamanian Balboa |
|---|
Costa Rican Colón
The Costa Rican Colón (CRC) is the official currency of Costa Rica, used for everyday transactions within the country.
History/Origin
Introduced in 1896, the Colón replaced the Costa Rican peso and was named after Christopher Columbus (Cristóbal Colón). It has undergone various devaluations and redesigns over the years to stabilize the economy.
Current Use
The CRC remains the official currency of Costa Rica, widely used in all economic activities, with banknotes and coins circulating throughout the country. It is also used in currency conversions and financial transactions domestically.
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.