Converting from Panama Balboa (PAB) to Belarusian New Ruble (BYN)

What is Panama Balboa (PAB)

The Panama Balboa (PAB) is the official currency of Panama. It was introduced in 1904, shortly after the country's independence. The Balboa is pegged to the U.S. dollar (USD) at a one-to-one exchange rate. This means that one Balboa is equal to one U.S. dollar.

The currency is named after Vasco Núñez de Balboa, a Spanish explorer who was the first European to see the Pacific Ocean from the Americas. The Balboa is represented by the symbol "B/." and is subdivided into 100 centésimos. In Panama, you will often find that the U.S. dollar is used alongside the Balboa, with both currencies being accepted in daily transactions.

The Balboa coins are available in denominations of 1, 5, 10, 25, and 50 centésimos and 1 Balboa. However, paper currency in Panama consists solely of U.S. dollars, which are widely circulated. This dual currency system has made economic exchanges more straightforward for both locals and tourists, fostering a stable financial environment.

What is Belarusian New Ruble (BYN)

The Belarusian New Ruble (BYN) is the official currency of Belarus, introduced in 2016. The new ruble replaced the old ruble at an exchange rate of 1 BYN = 10,000 BYR (the old Belarusian ruble). The move was part of an effort to stabilize the economy and control inflation, which had plagued the country in previous years.

The Belarusian New Ruble is represented by the symbol "Br" and is divided into 100 kopecks. The central bank of Belarus oversees the issuance and regulation of the currency, ensuring it remains stable in value. The new ruble exists in coins and banknotes of various denominations, making it relatively easy to conduct financial transactions within the country.

The BYN is not heavily traded on the international market, which can make exchanging it for other currencies a bit challenging. Travelers looking to convert PAB to BYN may find it necessary to use a multi-step process involving an intermediary currency, typically the U.S. dollar or euro, to complete the transaction effectively.

Currency Conversion Process

To convert from Panama Balboa (PAB) to Belarusian New Ruble (BYN), one must first identify the current exchange rates. Due to the Balboa’s peg to the U.S. dollar, direct conversion might not be available in every exchange service.

Assuming ＄1 PAB is equivalent to ＄1 USD, if the current exchange rate is ＄1 USD = 2.60 BYN, you can calculate conversions as follows:

1. Convert PAB to USD: ＄1 PAB = ＄1 USD
2. Convert USD to BYN: ＄1 USD = 2.60 BYN

So:

1 PAB → 2.60 BYN

When planning travel or international business transactions, it's essential to stay informed about these rates and consider transaction fees that may apply.