Converting from Panama Balboa (PAB) to Albanian Lek (ALL)

What is Panama Balboa (PAB)

The Panama Balboa (PAB) is the official currency of Panama. It is pegged at par to the U.S. dollar, meaning that one balboa is equal to one U.S. dollar (USD). The Balboa was introduced in 1904, taking its name from the Spanish explorer Vasco Núñez de Balboa. This currency is used mainly for transactions within Panama, although the U.S. dollar is also widely accepted throughout the country.

The PAB is available in both coins and banknotes, although banknotes are predominantly in USD. The Balboa only circulates in coin form, with denominations such as 1, 5, 10, 25, and 50 centesimos. The use of the Balboa helps maintain stability in Panama’s economy, allowing it to benefit from the strength of the U.S. dollar. For travelers and businesses operating in Panama, understanding the Balboa is key to navigating financial transactions smoothly, especially since local prices will often be displayed in both currencies.

What is Albanian Lek (ALL)

The Albanian Lek (ALL) is the official currency of Albania. It has been in use since 1926, and its name comes from "lek", which is a reference to the medieval Albanian king, Lek Dukagjin. The lek is subdivided into 100 qindarka, although qindarka coins are no longer in circulation.

The Albanian Lek has undergone various changes since its introduction, including several redenominations. The current version that is in circulation features colorful banknotes and coins that display important historical figures, landmarks, and the country’s natural beauty. The coins come in denominations of 1, 5, 10, 20, 50, and 100 leks, while banknotes range from 200 to 10,000 leks.

When considering currency conversion, it’s important to stay updated on the exchange rate between PAB and ALL, as rates can fluctuate due to economic factors. For instance, if you are traveling from Panama to Albania or vice versa, you may wish to convert your funds from one currency to the other. Currency exchanges can typically be found at banks, exchange bureaus, and airports where you can easily find current rates.

Converting PAB to ALL

To convert Panama Balboa (PAB) into Albanian Lek (ALL), one would need to look up the current exchange rate. For example, if 1 PAB is equivalent to 130 ALL, a traveler exchanging 100 PAB would receive 13,000 ALL. Calculating conversions can be done using the formula:

Amount in ALL = Amount in PAB × Exchange Rate (PAB to ALL)

It’s always advisable to compare rates from different sources for the best deal when converting currency. Being informed helps you manage your budget effectively while traveling or conducting business internationally.