Converting from Panama Balboa (PAB) to Jordanian Dinar (JOD)

What is Panama Balboa (PAB)

The Panama Balboa (PAB) is the official currency of Panama, a country located in Central America. Introduced in 1904, it was named after Vasco Núñez de Balboa, the first European to see the Pacific Ocean from the Americas. The Balboa is pegged to the US dollar (USD) at a rate of 1:1, which means that one Balboa is equivalent to one US dollar. This close relationship with the USD makes the Balboa somewhat unique, as it is only used in coin form, while paper currency in the country is predominantly US dollars.

The Balboa is subdivided into 100 centésimos, similar to the way the US dollar is divided into 100 cents. Coins are available in denominations of 1, 5, 10, 25, and 50 centésimos, as well as 1 Balboa. The widespread acceptance of US dollars in Panama has led to limited circulation of Balboa coins, but it is still an important part of Panamanian culture and economy.

What is Jordanian Dinar (JOD)

The Jordanian Dinar (JOD) is the official currency of Jordan, a country located in the Middle East. Introduced in 1949, the Dinar replaced the Palestinian pound at a rate of one Dinar for every 10 Palestinian pounds. The name "Dinar" comes from the Latin word "denarius," which was a silver coin used in ancient Rome.

The Jordanian Dinar is subdivided into 10 dirhams, 100 qirsh, or piasters. Coins and banknotes are issued in various denominations, with coins available in 1 qirsh, 5 qirsh, and 10 qirsh. Banknotes are issued in denominations of 1, 5, 10, 20, and 50 Dinars. The Dinar is known for its stability and is considered one of the stronger currencies in the region.

Converting PAB to JOD

When converting Panama Balboas (PAB) to Jordanian Dinars (JOD), it’s important to consider the current exchange rates, which can fluctuate over time. Since PAB is pegged to USD, the conversion process will also involve the USD. As of now, let’s assume the exchange rate is approximately:

1PAB=1USDand1USD≈0.71JOD

To convert PAB to JOD, you can use the following calculation:

JOD=PAB×0.71

So, if you have 100 PAB:

JOD=100PAB×0.71=71JOD

Understanding the conversion process is crucial for travelers and businesses dealing with these currencies. Always check up-to-date exchange rates before making any transactions.