Convert Ugandan Shilling to Panamanian Balboa
Please provide values below to convert Ugandan Shilling [UGX] to Panamanian Balboa [PAB], or Convert Panamanian Balboa to Ugandan Shilling.
How to Convert Ugandan Shilling to Panamanian Balboa
1 UGX = 3566.2686 PAB
Example: convert 15 UGX to PAB:
15 UGX = 15 × 3566.2686 PAB = 53494.029 PAB
Ugandan Shilling to Panamanian Balboa Conversion Table
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Ugandan Shilling
The Ugandan Shilling (UGX) is the official currency of Uganda, used for all monetary transactions within the country.
History/Origin
The Ugandan Shilling was introduced in 1966, replacing the East African Shilling, and has undergone various denominations and reforms over the years to stabilize the economy.
Current Use
Today, the UGX is widely used in Uganda for everyday transactions, banking, and trade, and is managed by the Bank of Uganda.
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.