Convert Guatemalan Quetzal to Panamanian Balboa
Please provide values below to convert Guatemalan Quetzal [GTQ] to Panamanian Balboa [PAB], or Convert Panamanian Balboa to Guatemalan Quetzal.
How to Convert Guatemalan Quetzal to Panamanian Balboa
1 GTQ = 7.6747 PAB
Example: convert 15 GTQ to PAB:
15 GTQ = 15 × 7.6747 PAB = 115.1205 PAB
Guatemalan Quetzal to Panamanian Balboa Conversion Table
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Guatemalan Quetzal
The Guatemalan Quetzal (GTQ) is the official currency of Guatemala, used for all monetary transactions within the country.
History/Origin
The Quetzal was introduced as the official currency of Guatemala in 1925, replacing the Guatemalan peso. It was named after the quetzal bird, a symbol of liberty in Guatemala, and was initially pegged to the US dollar. The currency has undergone various reforms and decimalization since its inception.
Current Use
Today, the GTQ is widely used throughout Guatemala for everyday transactions, banking, and trade. It is managed by the Bank of Guatemala and remains the country's legal tender.
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.