Convert Turkish Lira to Panamanian Balboa
Please provide values below to convert Turkish Lira [TRY] to Panamanian Balboa [PAB], or Convert Panamanian Balboa to Turkish Lira.
How to Convert Turkish Lira to Panamanian Balboa
1 TRY = 40.4407 PAB
Example: convert 15 TRY to PAB:
15 TRY = 15 × 40.4407 PAB = 606.6105 PAB
Turkish Lira to Panamanian Balboa Conversion Table
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Turkish Lira
The Turkish Lira (TRY) is the official currency of Turkey, used for everyday transactions and financial exchanges within the country.
History/Origin
The Turkish Lira was first introduced in 1923, replacing the Ottoman lira. It has undergone several revaluations and reforms, including the introduction of the New Turkish Lira in 2005 to address inflation and currency stability issues.
Current Use
Today, the Turkish Lira is the primary currency used in Turkey for all economic activities. It is also accepted in some regions of Northern Cyprus and is used in financial markets and banking transactions across the country.
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.