Converting from Haiti Gourde (HTG) to Panama Balboa (PAB)

What is Haiti Gourde (HTG)

The Haiti Gourde (HTG) is the official currency of Haiti. It was introduced in 1813 to replace the French colonial currency. The Gourde is subdivided into 100 centimes, although the centime is rarely used today. The symbol for the Gourde is "G" and its ISO currency code is HTG. Over the years, the HTG has faced significant devaluation due to economic instability, inflation, and other financial factors impacting Haiti.

Some notable features of the Haiti Gourde include:

• Exchange Rate Volatility: The exchange rate of HTG can fluctuate widely against major currencies, including the US dollar, which often impacts trade and purchasing power.
• Physical Denominations: The physical currency includes both coins and banknotes, with common banknotes being available in denominations of 10, 20, 50, 100, 250, and 500 Gourdes.
• Economic Influence: The Gourde's performance is influenced by the political stability of Haiti and its overall economic health.

What is Panama Balboa (PAB)

The Panama Balboa (PAB) is the official currency of Panama, introduced in 1904. Its ISO code is PAB, and it is unique because it is pegged to the US dollar at a 1:1 exchange rate. This means that 1 Balboa is always equal to 1 US dollar (USD). The Balboa is divided into 100 centésimos, and like the HTG, the centésimo coins are not commonly used.

Key features of the Panama Balboa include:

• Currency Peg: The fact that the Balboa is pegged to the US dollar makes it stable and less prone to inflation compared to other currencies, including the HTG. This stability attracts investment and encourages economic growth.
• Physical Forms: In practice, US dollar banknotes circulate alongside Balboa coins, which are minted in denominations such as 1, 5, 10, 25, and 50 centésimos, as well as ＄1 coins.
• Trade and Tourism: The use of USD alongside the Balboa simplifies trade and is beneficial for tourism, providing foreign travelers with a seamless currency experience.

Converting HTG to PAB

To convert Haiti Gourdes to Panama Balboas, you need to consider the current exchange rates. The formula for conversion is:

Amount in PAB = (Amount in HTG/Exchange Rate (HTG to PAB))

Currency converters and financial websites can provide real-time exchange rates. Ensure you're aware of the conversion fees, which may apply during exchanges. Always check for the most accurate and up-to-date information before making any currency conversions.

By understanding both currencies, you can navigate transactions between Haiti and Panama effectively, whether for travel, business, or other financial purposes.