Converting from Panama Balboa (PAB) to Bahraini Dinar (BHD)

What is Panama Balboa (PAB)

The Panama Balboa (PAB) is the official currency of Panama, introduced in 1904. It was named after the Spanish explorer Vasco Núñez de Balboa, who was the first European to see the Pacific Ocean from the New World. The Balboa exists in both coins and paper currency, but interestingly, Panama does not issue its own banknotes; instead, the U.S. dollar (USD) is used as legal tender alongside the Balboa, particularly for banknotes.

In terms of denomination, the Balboa is subdivided into 100 centésimos. Similar to the U.S. dollar, the Balboa is pegged at a 1:1 exchange rate, meaning one Balboa is equivalent to one U.S. dollar. This pegged system provides stability for the currency, which is critical for trade and commerce in Panama. As a result, when converting the Balboa to other currencies, reference is often made to its value against the dollar.

What is Bahraini Dinar (BHD)

The Bahraini Dinar (BHD) is the currency of the Kingdom of Bahrain and has been in circulation since 1965. It is subdivided into 1,000 fils and is known for its high value compared to many other world currencies. The Bahraini Dinar is pegged to the U.S. dollar at a rate of approximately 0.376 BHD for 1 USD.

The Dinar is issued by the Central Bank of Bahrain, which manages its supply and monetary policy. The Bahraini Dinar is widely used within Bahrain for both local transactions and for trade with other countries in the Gulf Cooperation Council (GCC). Due to its status as a stable currency within a thriving economy, the Dinar is often used as a benchmark in the region.

Converting PAB to BHD

When converting Panama Balboa to Bahraini Dinar, it’s essential to look at the current exchange rates, as they fluctuate based on the global currency markets. Given that both currencies are pegged to the U.S. dollar, one may start by converting PAB to USD, and then further convert the amount from USD to BHD.

Suppose you have 100 PAB. Since 1 PAB is equivalent to 1 USD, you effectively have 100 USD. To convert this to Bahraini Dinars, you would use the applicable exchange rate, which varies but is generally around 0.376 BHD per USD. Therefore,

Amount in BHD = 100 USD × 0.376 BHD/USD = 37.6 BHD

This means that 100 Panama Balboas would be approximately 37.6 Bahraini Dinars. Keep in mind that exchange rates and transaction fees may affect the final amount, so it is wise to check up-to-date rates from reliable sources before proceeding with a conversion.