Converting from Panama Balboa (PAB) to Gambian Dalasi (GMD)

What is Panama Balboa (PAB)

The Panama Balboa (PAB) is the official currency of Panama, named after Vasco Núñez de Balboa, a Spanish explorer who was the first European to see the Pacific Ocean. Adopted in 1904, the Balboa is pegged to the US dollar (USD) at a one-to-one exchange rate, which means that one Balboa is equal to one US dollar. This peg helps stabilize the Panamanian economy, allowing it to avoid the inflationary pressures often associated with other currencies that might fluctuate significantly.

The Balboa is issued in coins that come in denominations of 1 cent, 5 cents, 10 cents, 25 cents, and 50 cents, as well as a 1 Balboa coin. Notably, Panama does not issue paper money; instead, the US dollar is used for banknotes. Therefore, the currency system in Panama operates on a dual-currency basis, where both the Balboa and the US dollar are commonly used in transactions.

What is Gambian Dalasi (GMD)

The Gambian Dalasi (GMD) is the official currency of The Gambia, a small West African nation. It was introduced in 1971, succeeding the Gambian pound, with the aim of stabilizing the country’s economy. The Dalasi is subdivided into 100 bututs. Similar to many currencies, the GMD's value can fluctuate due to various economic factors, making it essential to keep updated on the exchange rates when converting from or to other currencies.

In The Gambia, banknotes are available in denominations of D5, D10, D20, D50, D100, and D200. Coins are also available, though they are rarely used in daily transactions. The Gambian economy is largely dependent on agriculture, tourism, and remittances, which can influence the value of the Dalasi against other currencies.

Converting PAB to GMD

As of the latest updates, conversion rates may vary daily due to market conditions. To convert from Panama Balboa (PAB) to Gambian Dalasi (GMD), you’ll need to consult current exchange rates, which can be found on financial news websites, currency converters, or banks. The exchange formula is straightforward:

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

For example, if the exchange rate is 40 GMD for 1 PAB, and you have 10 PAB, you would calculate as follows:

Amount in GMD = 10 PAB × 40 GMD/PAB = 400 GMD

It is important to keep updated with the local financial news to receive the most accurate conversion rates, as they can fluctuate based on economic developments both globally and locally.