Convert Omani Rial to Panamanian Balboa
Please provide values below to convert Omani Rial [OMR] to Panamanian Balboa [PAB], or Convert Panamanian Balboa to Omani Rial.
How to Convert Omani Rial to Panamanian Balboa
1 OMR = 0.3845 PAB
Example: convert 15 OMR to PAB:
15 OMR = 15 × 0.3845 PAB = 5.7675 PAB
Omani Rial to Panamanian Balboa Conversion Table
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Omani Rial
The Omani Rial (OMR) is the official currency of Oman, used for all monetary transactions within the country.
History/Origin
The Omani Rial was introduced in 1970, replacing the Gulf rupee at par, and has since been the standard currency of Oman, with its value stabilized through pegging to the US dollar.
Current Use
The Omani Rial is widely used in Oman for everyday transactions, banking, and trade, and is subdivided into 1000 baisa.
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.