Convert Panamanian Balboa to Cuban Convertible Peso
Please provide values below to convert Panamanian Balboa [PAB] to Cuban Convertible Peso [CUC], or Convert Cuban Convertible Peso to Panamanian Balboa.
How to Convert Panamanian Balboa to Cuban Convertible Peso
1 PAB = 1 CUC
Example: convert 15 PAB to CUC:
15 PAB = 15 × 1 CUC = 15 CUC
Panamanian Balboa to Cuban Convertible Peso 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.
Cuban Convertible Peso
The Cuban Convertible Peso (CUC) was a currency used in Cuba, primarily for tourism and foreign transactions, pegged to the US dollar.
History/Origin
Introduced in 1994 to replace the peso convertible, the CUC was used alongside the Cuban peso (CUP). It facilitated foreign trade and tourism. The CUC was phased out starting in 2020 as part of Cuba's monetary unification efforts, with its value being absorbed into the CUP.
Current Use
The CUC is no longer in circulation as of 2021. Cuba has transitioned to a single currency system using the Cuban peso (CUP), and the CUC is considered obsolete.