Convert Panamanian Balboa to Mongolian Tugrik
Please provide values below to convert Panamanian Balboa [PAB] to Mongolian Tugrik [MNT], or Convert Mongolian Tugrik to Panamanian Balboa.
How to Convert Panamanian Balboa to Mongolian Tugrik
1 PAB = 0.000281711662028942 MNT
Example: convert 15 PAB to MNT:
15 PAB = 15 × 0.000281711662028942 MNT = 0.00422567493043412 MNT
Panamanian Balboa to Mongolian Tugrik Conversion Table
| Panamanian Balboa | Mongolian Tugrik |
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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.
Mongolian Tugrik
The Mongolian Tugrik (MNT) is the official currency of Mongolia, used for all monetary transactions within the country.
History/Origin
Introduced in 1925, the Tugrik has undergone various reforms and redenominations, especially after Mongolia's independence from China and during the transition from a socialist economy to a market economy.
Current Use
Today, the Tugrik is widely used in Mongolia for everyday transactions, with banknotes and coins circulating throughout the country. It is also traded in foreign exchange markets.