Converting from Panama Balboa (PAB) to Burundi Franc (BIF) | Currency

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 Americas. The Balboa operates in tandem with the United States dollar (USD), which is widely used in Panama for everyday transactions.

The Balboa is subdivided into 100 centésimos, just like the dollar. One unique feature of the Balboa currency system is that it is pegged to the USD at a one-to-one exchange rate. This means that ＄1 PAB is always equal to ＄1 USD. Coins of the Balboa come in denominations of 1, 5, 10, 25, and 50 centésimos, as well as a 1 Balboa coin. The notes, however, are not printed in Panama but are instead USD notes that circulate widely.

The Balboa is primarily used for monetary transactions within Panama, and although it may not be widely recognized outside the country, it plays a crucial role in the Panamanian economy, supporting trade and tourism. Understanding its value and the exchange rate against other currencies is vital for anyone planning to travel to or do business in Panama.

What is Burundi Franc (BIF)

The Burundi Franc (BIF) is the currency of Burundi, a small landlocked country in East Africa. It was introduced in 1964, replacing the Belgian Congo franc at a rate of 1 BIF for 1 Belgian franc. The currency is subdivided into 100 centimes, although the centime coins are rarely used in transactions today due to inflation.

The BIF is issued by the Bank of the Republic of Burundi, the country's central bank. The currency is predominantly physical, with banknotes available in various denominations, including 1, 5, 10, 20, 50, 100, 500, 1,000, 2,000, and 5,000 Francs. The depreciation of the BIF against major currencies has been a concern, and thus, the exchange rate is often unstable, fluctuating due to various economic factors, including inflation and government policy.

Understanding the Burundi Franc is especially important for travelers or businesses engaging in commerce with Burundi. Being aware of the current exchange rate can help in budgeting and managing financial transactions effectively.

Converting PAB to BIF

To convert Panama Balboa (PAB) to Burundi Franc (BIF), it is important to consider the current exchange rates, which fluctuate based on market conditions. The conversion can generally be calculated using the formula:

Amount in BIF = Amount in PAB × Current Exchange Rate (BIF/PAB)

Always refer to reliable financial news or currency exchange websites for the latest rates to ensure accuracy in your calculations.